A bill aimed at banning stock trading by members of Congress is set for a committee hearing, raising concerns about potential delays in its progress. The bill, supported by Representatives Seth Magaziner and Anna Paulina Luna, comes amid allegations of insider trading, as over 20 lawmakers reportedly outperformed the S&P 500 in 2024, with some achieving returns up to 149% in sectors they influence.
The hearing could potentially advance the legislation to a floor vote, but there are fears it may stall the bill's progress. Lawmakers' trading activities, particularly in defense and tech industries, have led to accusations of corruption, with bipartisan portfolios reportedly gaining 26-31% on average. The bill's future remains uncertain without expedited action.
Congressional Stock Trading Ban Bill Faces Hearing Amid Insider Trading Concerns
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