Congressional Insider Trading and Sen. Josh Hawley's PELOSI Act
Sen. Josh Hawley is demanding a vote on his bill, the PELOSI Act, to stop members of Congress from enriching themselves through insider trading. The bill aims to ban members from owning or trading individual stocks and promote transparency.
Key Points
- PELOSI Act aims to ban members of Congress from owning or trading individual stocks
- Penalties for non-compliance are strict
- Public disclosure requirements to ensure transparency
Pros
- Promotes transparency in Congress
- Aims to prevent members from profiting off insider knowledge
- Proposes tough penalties for non-compliance
Cons
- Faces resistance from members of both parties
- Previous attempts to pass similar legislation have failed