WASHINGTON, DC – PA U.S. Sen. John Fetterman joined some of his Senate colleagues to introduce the ETHICS Act. It would ban members of Congress, their spouses, and dependent minors from owning or trading stocks, commodities, or futures. Fetterman said lawmakers should not be able to profit off the same companies that they are regulating. Letting members of Congress trade stocks opens the door to corruption. Lawmakers often have advance notice of investigations, hearings, and legislation that can impact stock prices or can move markets by supporting or enacting policy changes that affect specific companies or industries. The ETHICS Act includes strong penalties with enforcement by respective Congressional Ethics Offices. If members or their covered family members continue to hold or trade in violation of the Act, the fine will be at least the value of the Congressional Members’ monthly pay.
