Missouri Republican Rep. Mark Alford will present legislation on Wednesday that would prohibit congressional stock trading, acting as the House companion measure to Sen. Josh Hawley’s, R-Mo., “PELOSI Act” in the Senate.
Alford’s proposed measure prohibits members and their wives from owning, buying, or selling individual stocks while in office, but it permits for investments in diversified mutual funds, exchange-traded funds, or US Treasury bonds. If enacted, existing parliamentarians would have 180 days to comply with the bill. Similarly, freshly elected MPs must comply within 180 days of taking office.
“As public servants, we should hold ourselves to a higher standard and avoid the mere appearance of corruption,” Alford said in a statement. “Unfortunately, too many members of Congress are engaging in suspicious stock trades based on non-public information to enrich themselves.”
“These gross violations of the public trust make clear: we must finally take action to ban members and their spouse
