President Joe Biden is calling for a ban on congressional stock trading. President Biden endorsed the ban on Congress members trading stock in an interview set to release this week. “Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said in the interview, according to the Associated Press.
JUST IN: 🇺🇸 President Biden calls for ban on congressional stock trading.
“Nobody in the Congress should be able to make money in the stock market while they’re in the Congress.” pic.twitter.com/EnTahVxksF
— Watcher.Guru (@WatcherGuru) December 17, 2024
The interview was conducted by Faiz Shakir, a political adviser for Senator Bernie Sanders, and published by A More Perfect Union, a pro-labor advocacy and journalism organization. President Biden reportedly spoke to Shakir about his economic legacy as President. The 44th Commander in Chief supported unions, investing in clean energy projects and signed several infrastructure bills during his term.
Joe Biden Gives His Take on Congress Members Trading Stocks
When the topic of Congressional stock trading came up in conversation, the outgoing President shared his thoughts. The topic has been debated on Capitol Hill for years, and Biden shared his stance against Congress members trading stock. “I don’t know how you look your constituents in the eye and know, because the job they gave you, gave you an inside track to make more money,” he said. “I think we should be changing the law.” A noteworthy piece is that Biden has previously been hushed on his position when he was in office.
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A bipartisan proposal to ban trading stocks by members of Congress and their families has been introduced, but it has not received a vote. Currently, lawmakers are required to disclose stock transactions exceeding $1,000. However, they’re routinely late in filing notices and sometimes don’t file them at all.
Incoming President Donald Trump’s stance on trading stocks while being a Congress member is unknown. However, as a business mogul himself, it is possible that he wouldn’t endorse a plan to ban congressional stock trading. He has yet to comment on the reported Biden remarks or answer how he would vote on the proposal.
