House leaders are weighing a new proposal from Representative Bryan Steil that would allow members of Congress to keep existing stock holdings while banning new purchases, drawing immediate opposition from House Democrats and renewed momentum for a broader bipartisan push to restrict lawmakers’ stock trading.
- The Steil-backed bill would permit members to retain stocks they owned before entering Congress.
- Lawmakers would be prohibited from buying new stocks and could only sell existing positions after giving seven days’ notice.
- House Democrats released a statement opposing the measure, saying it fails to eliminate conflicts of interest tied to owning or selling stocks.
- Representatives including Pramila Jayapal, Alexandria Ocasio-Cortez, and Jamie Raskin called for a full ban on members owning and trading stocks.
- Representative Anna Luna said a bipartisan discharge petition has led to a bill expected to move out of committee that would prohibit members from buying individual stocks.
- Supporters of the competing effort say the new bill reflects growing bipartisan pressure for stricter trading rules in Congress.
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
