The bill on limiting stock trading for sitting members of Congress, proposed by bipartisan Senators Josh Hawley (R-Mo.), Gary Peters (D-Mich.), Jon Ossoff (D-Ga.), and Jeff Merkley (D-Ore.), will be considered at the Homeland Security and Government Affairs Committee business meeting on July 24.
The new bipartisan agreement contains three main provisions:
1. Immediately ban members of Congress, the President, and Vice President from buying and selling covered assets. Covered assets include securities, commodities, futures, options, trusts, and other comparable holdings.
2. Require elected officials, their spouses, and dependent children to divest covered assets beginning in 2027.
3. Increase penalties for violations of STOCK Act disclosure requirements from $200 to $500.
Senator Merkley, â You come here to serve the people, not to serve your portfolio! â
This is considered a big step forward to ETHICS legislation!