A bipartisan group of senators reached a deal Wednesday on legislation to ban stock trading by members of Congress, setting the bill up for action in the Senate later this month.

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78 points

Bill dies in committee in 3, 2, 1…

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50 points

Or allows their spouses to trade

Or has zero teeth

Etc

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37 points

From the article:

The deal would immediately prohibit members of Congress from buying stocks and selling stocks 90 days after the bill is signed into law.

It would also ban member spouses and dependent children from trading stocks starting in March 2027. Penalties for violating the law would either be the monthly salary of a lawmaker or 10% of the value of each asset they buy or sell.

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23 points

So a 10% tax?

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So they just have to make more than 10% and they can still do it without a real barrier?

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7 points

Sounds like zero teeth to me if the fine is just “the cost of doing business”

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5 points

Spouses and dependent children only? Then it’s time to call mom and dad! Also brother, sister, cousin, uncle, etc.

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-2 points

AFTER BEING SIGNED INTO LAW seems like a huge loophole to me. They can just trade while they’re talking about it or right after it passes but hasn’t been signed, etc etc.

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