Pelosi Says Bill on Investing Rules for Lawmakers Will Face Vote This Month

In the seven months since Ms. Pelosi first signaled her support for legislation to stiffen the curbs on congressional stock trading, there have been few signs of progress on legislation that could pass the House. A number of somewhat different bills have been proposed in both the House and the Senate, some with bipartisan support.

“For months, House and Senate leadership have promised action,” Representative Abigail Spanberger, Democrat of Virginia and a lead sponsor of one bipartisan proposal to rein in trading by lawmakers, said. “It’s long past time to move forward.”

A version of a legislative framework in the House, outlined in a late August memo that was reviewed by The Times, would effectively prohibit lawmakers, their spouses and dependent children from making trades in individual stocks, bonds, cryptocurrencies and other financial assets tied to specific companies.

Under the framework, which is the basis for the current negotiations over a legislative proposal, members of Congress would either have to divest those assets or move them into a blind trust in which they would have no visibility or involvement. Lawmakers would continue to be permitted to invest in mutual funds, exchange-traded funds and some other categories.

Article source: https://www.nytimes.com/2022/09/14/us/politics/congress-stock-trading-legislation.html