UNLIKELY BEDFELLOWS WORK ON BIPARTISAN RESTORATION OF FAITH GOVERNMENT ACT
Shared By Peter Boykin – American Political Commentator / Citizen Journalist
UNLIKELY BEDFELLOWS WORK ON BIPARTISAN RESTORATION OF FAITH GOVERNMENT ACT
Socialist Rep. Alexandria Ocasio-Cortez and firebrand populist conservative Rep. Matt Gaetz have teamed up to co-sponsor a bill that would ban lawmakers from trading stocks.
The bill, titled the Bipartisan Restoring Faith in Government Act, was introduced yesterday by Reps. AOC (D), Gaetz (R), Fitzpatrick (R), and Krishnamoorthi (D) and, if passed, would restrict members of Congress, their spouses, and their dependents from owning and trading stocks.
The bill also includes a provision to ban lawmakers from serving on boards of public companies.
Why shouldn’t lawmakers trade stocks? In their positions of power, members of Congress have access to classified regulatory and policy information that normal American investors do not. This gives them the opportunity to not only make investments based on their knowledge – but also opens to door for them to make policies that will benefit their investments.
Rep. AOC said the “ability to individually trade stock erodes the public’s trust in government. “When members have access to classified information, we should not be trading in the stock market on it. It’s really that simple.”
A similar bill drew support from both sides of the aisle last year IN 2022 but was never brought to the floor for a vote. In other words, then-Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer didn’t want it to pass.
What changed? Leadership. Republicans now have control of the House and Speaker Kevin McCarthy has expressed support for reigning in stock trading. In an interview with Donald Trump Jr. earlier this year, he said: “I think there is a problem, you got to build trust in this institution. I’m really looking at this — I want to do it on a bipartisan basis.”
I don’t agree with AOC on much of anything. But if there are areas where Republicans and Democrats can work together to reign in Congress, I’m all for it.
[Source: Axios, Post Millennial, Don Jr. Podcast]
https://www.axios.com/2023/05/02/aoc-lmatt-gaetz-congress-stock-trade-ban
https://rumble.com/v27a5jw-1-on-1-with-the-speaker-of-the-house-in-nancy-pelosis-former-office.html
