Some lawmakers sounded optimistic on Wednesday that their colleagues may soon be willing to curb their own stock trading, as they unveiled bipartisan legislation they had hammered out.
The measure is the latest in a series of efforts to bring a bill to the floor that would address the perception that members are trading on inside information gleaned from their work in Congress.
“Members of Congress have access to inside information. Period, end of story,” said Rep. Brian Fitzpatrick, R-Pa., who has long pushed for action on the issue.
Introduced by Rep. Chip Roy, R-Texas, the new bill would ban members of Congress from owning or trading individual stocks. Unlike some other proposals, it does not allow blind trusts, and it applies only to lawmakers, their spouses and dependent children —