Rep. Anna Paulina Luna filed a resolution on Friday that would immediately require the House of Representatives to consider the End Congressional Stock Trading Act, a bill that bans members of Congress and their families from trading and owning stocks.
Luna’s resolution comes as both Democrats and Republicans, as well as President Donald Trump, House Speaker Mike Johnson (R-LA), and Minority Leader Hakeem Jeffries (D-NY) have all endorsed a ban on stock trading. Dozens of bills have been introduced over the years on a ban, but none have reached the House floor.
“No one sent to Congress should be enriching themselves through Wall Street while writing the very laws that regulate our markets,” Luna said in a statement. “This bill is about accountability, transparency, and restoring faith in the institution of Congress.”
The End Congressional Stock Trading Act would require members, their spouses, and their dependent children to divest from all individual stocks, bonds, commodities, and other securities within 180 days of the bill becoming law. Complex private investments must be divested within two years of the bill’s enactment.
Currently, the Stop Trading on Congressional Knowledge Act prohibits members from acting on insider information and requires them to report trades within 45 days. However, the law is more of a slap on the wrist rather than a binding ban, with only a $200 fine, and members have not been punished for any violations to date.
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Author: Marty Kaufmann
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