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Bills Summarized:
Ban Congressional Stock Trading Act
Sponsorers:
Sen. Jon Ossoff (D-GA) and Sen. Mark Kelly (D-AZ)
Covered Persons:
Legislators, their spouses, and dependent children
Covered Asset Requirements:
Must put their stocks, mutual funds, and government bonds into a blind trust managed by an independent party for the duration of their congressional career
Punishment:
A fine equivalent to the member’s entire congressional salary
Banning Insider Trading in Congress Act
Sponsorer:
Sen. Josh Hawley (R-MO)
Covered Persons:
Legislators and their spouses
Covered Assets Requirements:
Cannet possess or trade options or individual stocks
Punishment:
Fine determined by an ethics committee
Ethics Reform Act
Sponsorer:
Sen. Ben Sasse (R-NE)
Covered Persons:
Members of congress
Covered Asset Requirements:
Cannet possess or trade options or individual stocks
Punishment:
A mix and match combination of five years in prison and a million dollar fine. Up to the judge.
Ban Conflicted Trading Act:
Sponsorers:
Rep. Raja Krishnamoorthi (D-IL) and currently has 51 co-sponsors, ranging from Rep. Alexandria Ocasio-Cortez (D-NY) to Rep. Matt Gaetz (R-FL)
Covered Persons:
Members of Congress and their senior Staff
Covered Asset Requirements:
Cannot actively trade stocks
Punishment:
Punishment, a fine equivalent to 10% of the value of the traded stocks
Congressional Stock Ownership Act
Sponsorers:
Sen. Elizabeth Warren (D-MA) and Sen. Steve Daines (R-MT)
Covered Persons:
Lawmakers and their spouses
Covered Asset Requirements:
Cannot possess individual stocks
Punishment:
A $50,000 fine
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