President Biden stated in a new interview that members of Congress should be prohibited from trading stocks, addressing growing concerns over ethics. “I think we should be changing the law … that nobody in Congress should be able to make money in the stock market while they’re in Congress,” Biden said in an interview with Faiz Shakir, a political adviser for Sen. Bernie Sanders.
A bipartisan group of senators earlier this year proposed legislation banning the president, vice president, and lawmakers from buying or selling stocks. The law would extend to spouses and dependents by 2027, with provisions to block stock offloading within 90 days of enactment.
The focus on stock trading by government officials has intensified, driven by watchdogs and reports of regulators trading stocks during the pandemic. The Wall Street Journal won a Pulitzer Prize in 2023 for its reporting on these practices.
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