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Yesterday, Senators stuck a deal to ban congressional stock trading
Since we run the Pelosi Tracker & built the first website to track politicians' trades, here's what you need to know:
1. The bill would require members of Congress, their spouses and dependent children to either:
- Put their assets in a qualified blind trust, or
- Sell their assets entirely
2. The bill would apply to all members of Congress, the President & Vice President, Supreme Court justices, and senior officials in the Executive Branch
3. It would increase the penalty for violations of the STOCK Act from $200 to $1000 per violation
4. It would ban members of Congress and senior staff from trading cryptocurrencies
5. It would require more timely reporting of stock trades
This is a significant step toward addressing conflicts of interest in Congress. However, the bill still needs to pass both chambers.