Banning Congressional Stock Trading, Extending Lobbying Ban, and Ending Pay Raises.
This legislation establishes strict ethical rules for Members of Congress and their spouses, prohibiting them from trading or holding individual stocks and certain financial instruments to prevent the use of non-public information. It also significantly extends the "cooling-off" period before former members can become lobbyists and eliminates the automatic cost-of-living adjustments for Congressional salaries. The goal is to enhance public trust and reduce potential conflicts of interest within the government.
Key points
Stock Trading Ban: Members of Congress and their spouses are prohibited from buying, selling, or holding individual stocks, commodities, or derivatives, except through diversified funds or qualified blind trusts.
Extended Lobbying Ban: The post-employment lobbying ban is extended from 2 to 6 years for former Senators and from 1 to 3 years for former House Representatives.
Elimination of Automatic Pay Raises: The law repeals the automatic annual cost-of-living adjustments (COLAs) for Congressional salaries.
Status:
Introduced
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