Biden Backs Stock Trading Ban For Congress Members

December 17, 2024 Democrats, Politics

The Washington Post reports:

President Joe Biden endorsed banning members of Congress from trading stocks, throwing his waning political capital behind long-running efforts to prevent lawmakers from profiting off of their unique access to market-moving information.

Biden expressed his support for changing the requirements for lawmakers during an interview with Democratic political adviser Faiz Shakir for the advocacy journalism outlet More Perfect Union. “Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said.

the interview highlighted the stark financial differences between the outgoing president and his successor, a multibillionaire who has not yet divested from his financial interests or limited potential conflicts of interest.

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