Did you know that members of Congress can buy and sell stocks? Since they help make laws that affect companies, it’s no surprise that many have made money from the stock market. But this might change soon.
Senator Jon Ossoff from Georgia is pushing for a new law to stop Congress members from trading stocks. This proposal has support from both political parties. If passed, it would be similar to the rules for U.S. Presidents, who must place their investments in a blind trust.
Ted Jenkin, president of Exit Stage Left advisors in Atlanta, noted that high-profile cases, like Nancy Pelosi and her husband Paul, raise questions about how they outperform top investors. He believes no elected official should trade stocks without a blind trust.
Many Americans agree. Ossoff mentioned that 90% of Democrats, Independents, and Republicans support banning Congress members from stock trading.
After two years of work, Ossoff now has enough support to bring the bill to the Senate floor.
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