US Congressman Proposes Plan to Ban Congressional Stock Trading

US Congressman Proposes Plan to Ban Congressional Stock Trading

In a noteworthy development, US Congressman Ro Khanna, hailing from California, has unveiled a comprehensive plan aiming to curtail stock trading within the walls of Congress. This proposal, consisting of five key points, encompasses a range of prohibitions and reforms in an effort to enhance transparency and accountability in the legislative branch.

First and foremost, Khanna’s plan advocates for the “ban of all PAC and lobbyist money from congressional campaigns.” This bold move aims to reduce the influence of special interest groups on lawmakers and promote a more impartial decision-making process.

However, the centerpiece of Khanna’s proposal is the outright ban on stock trading by both members of Congress and their spouses. This prohibition aligns with the sentiments expressed by other representatives earlier this year, marking a potential area of bipartisan consensus. Notably, Representatives Alexandria Ocasio-Cortez and Matt Gaetz jointly introduced H.R. 3003, a bipartisan bill that sought to restrict congressional members and their spouses from engaging in stock trading. Khanna’s plan builds upon this momentum, further underlining its significance as a shared concern transcending political boundaries.

Khanna’s proposal doesn’t stop there. It also endeavors to introduce term limits for congressional members, a topic that has gained traction in recent political discourse. Earlier this year, Senator Ted Cruz introduced a constitutional amendment designed to establish term limits for members of Congress. Under his proposal, senators would be limited to serving two two-year terms, while members of the House of Representatives would be restricted to three two-year terms. Khanna’s plan incorporates this concept of term limits, potentially reshaping the landscape of congressional leadership.

Furthermore, the plan extends its reach to the judicial branch, suggesting the implementation of an ethics code for Supreme Court justices. This expansion into the realm of judicial ethics underscores the comprehensive nature of Khanna’s proposal, aiming to foster accountability and integrity across multiple branches of the government.

In a time when concerns about transparency, ethics, and impartiality in government are at the forefront of public discourse, Congressman Khanna’s five-point plan represents a significant step towards addressing these issues and fostering a more accountable and responsive political system.

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About Maria Morgan

Maria Morgan is a full-time cryptocurrency journalist at Coinography. She is graduate in Political Science and Journalism from London, her writing is centered around cryptocurrency news, regulation and policy-making across the glob.

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