Sen. Ossoff, colleagues today announced new bipartisan agreement to ban Congressional stock trading, with upcoming Committee vote later this month
In 2021, Sen. Ossoff first introduced landmark legislation to ban stock trading by members of Congress & placed his own stock portfolio into a blind trust
WATCH/DOWNLOAD: Sen. Ossoff remarks in Senate Press Conference
Washington, D.C. — Following years of leadership in Congress, U.S. Senator Jon Ossoff today announced bipartisan progress to ban stock trading by members of Congress.
After leading intensive bipartisan negotiations, Sen. Ossoff today announced a bipartisan path forward to ban stock trading by members of Congress.
Sen. Ossoff, alongside Chairman Gary Peters (D-MI), Sen. Josh Hawley (R-MO), and Sen. Jeff Merkley (D-OR), announced the U.S. Senate Homeland Security and Governmental Affairs Committee, on which Sen. Ossoff serves, will consider the bipartisan compromise in a hearing later this month.
“Three years ago, I introduced landmark legislation to ban stock trading by Members of Congress. Today, after leading intensive bipartisan negotiations, I can report progress toward this necessary reform,” Sen. Ossoff said. “Georgians overwhelmingly agree: Members of Congress should not be playing the stock market while we make Federal policy and have extraordinary access to confidential information. We still have a long way to go to pass this bill, but today’s bipartisan announcement is a major step forward.”
Click here to watch Sen. Ossoff’s remarks at today’s press conference.
Sen. Ossoff, a former investigative journalist whose company exposed corruption around the world, fulfilled his pledge to put his own stock portfolio in a blind trust in 2021 and has been leading efforts in Congress for years to ban stock trading by Members of Congress.
In 2021 and again last year, Sens. Ossoff and Mark Kelly (D-AZ) introduced leading legislation to ban stock trading by Members of Congress.
Polls repeatedly find the majority of Americans, including Republicans, Independents, and Democrats, overwhelmingly support banning stock trading by Members of Congress.
Please find a summary of the Ossoff-negotiated bipartisan agreement below:
- The bipartisan modified legislation would immediately ban Members of Congress from buying stocks and other covered investments and prohibit members from selling stocks 90 days after enactment.
- Spouses and dependent children are also banned from trading stocks starting in March 2027.
- The bipartisan modified legislation also requires Members of Congress, the President and the Vice President to divest from all covered investments, starting in 2027.
# # #
