Feb 3, 2022 - Politics

Ossoff campaigns against Congressional stock trades

Sen. Jon Ossoff

Photo: Stefani Reynolds/Bloomberg via Getty Images

Sen. Jon Ossoff wants to ban members of Congress (and their spouses and dependents) from having influence over stock trades while in office.

What’s happening: Ossoff introduced a bill last month that has bipartisan support, which would require members to divest of their stock portfolios or place them into qualified blind trusts. A Republican and Democrat sponsored a similar House version last year.

The big picture: This was a campaign promise of Ossoff’s, made as his then-opponent former Sen. David Perdue came under scrutiny (with his counterpart former Sen. Kelly Loeffler) for stock trades as the pandemic worsened.

Why it matters: According to one poll, three-fourths of voters support the measure, and the idea is gaining steam on Capitol Hill.

Details: House Minority Leader Kevin McCarthy is reportedly supportive of the proposal. House Speaker Nancy Pelosi, whose own husband has an active stock portfolio, has previously thrown cold water on the idea of banning trades. However, recently she said she would support it if her caucus does.

  • Former Sen. Loeffler just published an op-ed taking aim at Paul Pelosi’s stock trades.

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