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House lawmakers call for ban of stock trading by Congress members

By Megan Hadley
House lawmakers call for ban of stock trading by Congress members
Twenty-seven members of the House signed a letter to Nancy Pelosi urging her to bring legislation forward that would ban Congress members from trading and owning stocks. Pool photo by Rod Lamkey/UPI | License Photo

Jan. 24 (UPI) -- A new letter signed by 27 members of the House asks that members of Congress be banned from trading or owning stocks.

The letter, which was addressed to House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy, urged leaders to bring the proper legislation forward.

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"We are writing to urge you to swiftly bring legislation to prohibit members of Congress from owning or trading stocks, such as the Ban Conflicted Trading Act or the TRUST in Congress Act, to the House floor," the letter said.

"This common-sense, bipartisan legislation is unfortunately necessary in light of recent misconduct, and is supported by Americans across the political spectrum," it continued.

The letter, drafted by Representative Jared Golden, D-Maine, claims that members of Congress are meant to serve the country, not "turn a quick buck."

In an interview with Insider, Golden said the letter was an effort to pressure leadership to act.

"While this is still something that people are really talking about, we want to make sure that we're pushing for legislative action," he said.

The letter was signed by two Republicans and 25 Democrats.

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While the letter focuses on two longstanding bills, the Ban Conflicted Trading Act and the TRUST in Congress Act, other measures have been in the works as well.

On Friday, Vicky Hartzler, R-Mo., announced that she was introducing a House companion to a stock-trading ban introduced by Sen. Josh Hawley.

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