Finally, the far left and far right have found something they can agree on.
Socialist Rep. Alexandria Ocasio-Cortez (D-NY) and firebrand Rep. Matt Gaetz (R-Fla.) are co-sponsoring a bill to restrict members of Congress from owning or trading stocks.
H.R. 3003, also sponsored by moderate Rep. Brian Fitzpatrick (R-Pa.) and progressive Rep. Raja Krishnamoorthi (D-Ill.), would prohibit congressional spouses and other dependents from owning or trading stock as well.
“The fact that Members of the Progressive Caucus, the Freedom Caucus, and the Bipartisan Problem Solvers Caucus, reflecting the entirety of the political spectrum, can find common ground on key issues like this should send a powerful message to America,” Fitzpatrick said in
a joint statement with the other lawmakers.
“We must move forward on issues that unite us, including our firm belief that trust in government must be restored.”
“When Members have access to classified information, we should not be trading in the stock market on it,” said Ocasio-Cortez. “It’s really that simple.”
“Members of Congress are spending their time trading futures instead of securing the future of our fellow Americans,” Gaetz said. “We cannot allow the Swamp to prioritize investing in stocks over investing in our country.”
The legislation appears to be the strictest trading ban floated thus far.
Another bipartisan bill introduced by Reps. Abigail Spanberger (D-Va.) and Chip Roy (R-Texas), known as the
TRUST in Congress Act, would require members of Congress, their spouses and dependents to place investments into blind trusts until after they leave office.
“Rep. Spanberger appreciates continued momentum behind the push to ban members of Congress, their spouses, and their dependent children from trading individual stocks,” the Democrat’s spokesman told The Post Tuesday.
“Her TRUST in Congress Act continues to gain steam — with more than 55 Republicans and Democrats now supporting her bill. And in the wake of lawmaker trades
related to Silicon Valley Bank and First Republic Bank, Rep. Spanberger’s office is seeing more interest from lawmakers who want to join her push.”
Fitzpatrick and Gaetz have also signed on to Spanberger and Roy’s bill, but AOC has not.
Several members of Congress in March divested bank stocks amid the historic collapse of Silicon Valley Bank and
First Republic Bank — including Rep. Ro Khanna (D-Calif.), who is a co-sponsor of the TRUST in Congress Act.
nypost.com
