US Representative Chip Roy introduces bill to ban Congress from trading stocks.

U.S. Representative Chip Roy, along with other bipartisan colleagues, has introduced legislation aimed at prohibiting members of Congress from trading individual stocks. Here are the key details:

• Legislation Title: The bill is known as the “TRUST in Congress Act,” which stands for Transparent Representation Upholding Service and Trust in Congress Act.
• Core Provisions:
• The bill would require Members of Congress, as well as their spouses and dependent children, to place certain investments, like individual stocks, into a qualified blind trust during their tenure in Congress. This effectively bans active trading by members of Congress and their immediate family members.
• Members would have to either certify the establishment of a blind trust for their investments or certify that they do not own any covered investments. Non-compliance would result in penalties, including fines equivalent to a Member’s monthly congressional salary.
• Bipartisan Support: The legislation has garnered support across the political spectrum, with co-sponsors from both the Democratic and Republican parties. Notably, it was co-introduced with Rep. Abigail Spanberger (D-VA) and has seen endorsements from various representatives, showcasing its bipartisan appeal.
• Public and Legislative Sentiment:
• There’s significant public support for such a ban, with polls indicating that a large majority of Americans favor prohibiting members of Congress from trading stocks due to concerns about insider trading and conflicts of interest.
• In Congress, while there’s been a push for this type of reform for years, actual legislative progress has been slow. The TRUST in Congress Act has been reintroduced in multiple sessions of Congress without yet making it to a vote on the House floor.
• Motivation: The bill aims to restore public trust in government by ensuring that lawmakers are not making financial decisions based on non-public information they might gain through their work. It addresses the long-standing issue of Congress members potentially benefiting from insider knowledge, which has been a point of contention especially after high-profile cases of stock trading by politicians.
• Current Status: As of the latest information, the bill has not yet been brought to a vote. There have been discussions and attempts to push for a vote, with some pressure from both within Congress and from the public. However, the legislative process in Congress can be slow, and the timing of such votes often depends on broader political dynamics and priorities.

This legislative effort is part of a broader conversation about ethics in government and how to maintain the integrity of legislative processes. The introduction of this bill by Rep. Chip Roy reflects ongoing efforts to tackle what many see as an ethical issue in Congress.