It’s legal for members of Congress to buy and sell stock in businesses they write laws on — but Senators Sherrod Brown and Jeff Merkley want to end ‘conflicted trading’ once and for all.
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It’s perfectly legal for members of Congress to buy and sell stock in the very businesses that they are writing laws on. 34 members of Congress traded more than 100 stocks while in office in 2017-2018. Senator James Inhofe bought over $50,000 in stock in a top military contractor days after he pushed for a record $750 billion in military spending. Rep. Chris Collins was arrested on insider trading charges in 2018. He allegedly traded stocks while standing on the White House lawn.
Democratic Senators Sherrod Brown and Jeff Merkley are introducing the Ban Conflicted Trading Act to end this form of insider trading. The bill prohibits members of Congress from abusing their positions by voting on issues while holding stock in individual companies. It would also prohibit members of Congress from serving on any corporate boards while in office.
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