President-elect Donald Trump’s stance on the issue remains somewhat ambiguous. He caught many by surprise in 2024 when he voiced support for a ban on members of Congress engaging in stock trading based on insider information during a speech announcing his 2024 presidential bid. However, Trump has not revisited the topic since then. In contrast, President Biden’s recent comments represent a significant shift. While Biden previously refrained from taking a clear stance on the matter during his time in Congress, he now emphasizes the need for accountability and transparency among lawmakers regarding stock trading. The issue of lawmaker stock trading gained widespread attention in 2020 when Senators Kelly Loeffler and Richard Burr were accused of using privileged information about the COVID-19 pandemic to sell stocks before the public was aware of the situation. Despite various bipartisan efforts in Congress, such as the TRUST in Congress Act and the ETHICS Act, proposals for a ban on insider trading by lawmakers have struggled to gain traction. The push for legislative action on this issue continues, with advocates awaiting progress amidst competing priorities in Congress.
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