Reps. Abigail Spanberger (D-Va.) and Chip Roy (R-Texas) have reintroduced legislation effectively banning members of Congress—as well as their spouses and dependent children—from trading stocks while they are in office.
The bipartisan duo of lawmakers introduced the new bill, titled the “Transparent Representation Upholding Service and Trust (TRUST) in Congress Act,” on Jan. 12.
Originally proposed in June 2020 and reintroduced in January 2021, the bill would require lawmakers to place certain securities, commodities, futures, and other comparable investments into qualified blind trusts while serving in Congress, according to a statement from Spanberger’s office.
Specifically, the act would ensure members of Congress cannot use their positions in the U.S. House or Senate to “unethically inform investment decisions, influence the value of their existing investments, or contribute to greater distrust between the American people and their elected officials,” according to Spanberger….