The Damage Report
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Senate Makes HUGE Announcement As Long-Awaited Stock Ban Revealed
Posted
July 11, 2024
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July 11, 2024
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6.83%
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5:43Now PlayingSenators unveil bipartisan plan in long-awaited announcement over enacting a ban for the president, vice president, members of Congress and more from playing the stock market. John Iadarola and Jayar Jackson break it down on The Damage Report.
Read more here:
Senators unveil bipartisan plan to ban president, lawmakers from buying stocks
"Senators unveiled Wednesday a bipartisan plan that would ban the president, vice president and members of Congress from buying stocks and a wide range of other financial assets.
The proposal from Sens. Jon Ossoff (D-Ga.), Gary Peters (D-Mich.), Josh Hawley (R-Mo.) and Jeff Merkley (D-Ore.) will be considered by the Senate Homeland Security and Governmental Affairs Committee in a hearing later in July, Ossoff’s office said in a Wednesday release.
“Members of Congress should not be playing the stock market while we make federal policy and have extraordinary access to confidential information,” Ossoff said in a statement. “We still have a long way to go to pass this bill, but today’s bipartisan announcement is a major step forward.”
The new legislation would prevent lawmakers from buying stocks and other types of financial assets while also blocking them from offloading stocks 90 days after the law’s enactment. It would apply to spouses and dependent children starting in 2027 and would also extend to the president and vice president."
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240711__DR06Stocks
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