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17m ago

Gillibrand, Moody Unveil Bipartisan Senate Push to Ban Lawmaker Stock Trading

The move intensifies a crowded reform effort where rival House plans complicate a clear path forward.

FILE -Sen. Ashley Moody, R-Fla., speaks during the confirmation hearing before the Senate Judiciary Committee for Kash Patel, President Donald Trump's choice to be director of the FBI, at the Capitol in Washington, Jan. 30, 2025. (AP Photo/Ben Curtis, File)
FILE - Sen. Kirsten Gillibrand, D-N.Y., leaves the Senate chamber after voting on a government funding bill at the Capitol in Washington, March 14, 2025. (AP Photo/J. Scott Applewhite, File)
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Overview

  • The Restore Trust in Congress Act, sponsored by Sens. Kirsten Gillibrand and Ashley Moody, would bar members of Congress and their immediate family from trading or owning individual stocks.
  • Current lawmakers would have 180 days to divest and newly elected members would have 90 days, with prohibitions extending to securities, commodities and futures.
  • The legislation exempts the president and vice president, a carveout that supporters acknowledge could draw criticism.
  • House Republican leaders advanced the Stop Insider Trading Act, which allows existing holdings, blocks new purchases, and requires seven days of public notice before any sale.
  • Momentum is split across competing bills as a discharge petition to force a vote on a stricter House measure has 79 of 218 signatures and a similar 2023 Senate bid failed to leave committee.