House Democratic lawmakers expect to release a proposal in August for banning members of Congress, their spouses and senior staff from trading individual stocks, according to multiple published reports citing unnamed sources.
The proposal would make lawmakers pick between putting their investments in blind trusts or selling their individual stocks, though they still would be allowed to hold mutual funds, according to reports from Punchbowl News and CNN. Some Democratic and Republican lawmakers in the House and Senate already have proposed a range of bills that would prohibit congressional buying and selling of individual stocks. But time has been running out for a unified push in this area, as Congress soon will take its August recess and then could end up focusing primarily on November’s midterm elections.
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