For 12 years, Sen. Jeff Merkley (D-OR) has pushed for a ban on congressional stock trading, calling the practice “corrupt,” “unacceptable” and “wrong.”The first time he and Sen. Sherrod Brown (D-OH) presented an amendment in 2012 that would prohibit members of Congress from playing the stock market,...

For 12 years, Sen. Jeff Merkley (D-OR) has pushed for a ban on congressional stock trading, calling the practice “corrupt,” “unacceptable” and “wrong.”

Now, Merkley is confident an amended version of the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act has enough bipartisan support that it will come out of a markup meeting with the Senate Committee on Homeland Security and Governmental Affairs on Wednesday with the votes necessary to present the amendment for a vote.

  • Jackcooper@lemmy.world
    0·
    4 months ago

    To clarify will they still be able to do index funds or 401k type stuff or is this a ban on all holdings?

    • Shawdow194@kbin.run
      0·
      4 months ago

      Index funds seem fine for any gov position

      You do kinda want them investing domestically or eise there is a conflict of interest

    • memfree@lemmy.mlOP
      0·
      4 months ago

      I updated the post with a new link. Business Insider says they could hold certain mutual funds, and they link to a PDF of the full text – but it is a seemingly random documentcloud.org link of the sort where one might not trust anonymous users, so I leave it to you (and anyone else) to decide if you trust Business Insider and follow the link there.