Proposal to Prohibit Stock Trading by Congress Members
US Congressman Ro Khanna from California has put forward a proposal to restrict stock trading within Congress. The key points of his proposal are:
- A complete ban on stock trading for both Congress members and their spouses.
- Introduction of a 12-year term limit for members of Congress.
- Limitations on campaign donations for congressional members, including a ban on donations from PACs and lobbyists.
This move by Congressman Khanna follows similar calls from other representatives earlier this year, indicating a potential consensus across different political spectrums. Notably, Representatives Alexandria Ocasio-Cortez and Matt Gaetz had jointly introduced a bill in May, titled Legislation H.R. 3003, which also aimed to prohibit Congress members and their spouses from stock trading.
Furthermore, Khanna’s proposal includes the introduction of term limits for Congress members. Earlier, Senator Ted Cruz had proposed a constitutional amendment to set term limits for Congress members. Khanna’s proposal also touches upon introducing an ethics code for Supreme Court justices.