ByMike Stunson,
Forbes Staff.
Republican and Democratic senators plan on introducing a bill in Congress on Thursday that would ban stock trading by lawmakers, the latest in a wave of legislation attempting to crack down on lung-running concerns over congressional ethics that have drawn bipartisan support, according to The Associated Press.
If the Senate bill—set to be introduced by Kirsten Gillibrand, D-NY, and Ashley Moody, R-Fla.—passes, lawmakers would have 180 days to divest their stock holdings, with newly elected members getting 90 days after they’re sworn in.
Family members of lawmakers would also be barred from stock trading, a provision aimed at preventing members from circumventing the ban by transferring assets to their spouses or dependents.
