The bill would give members of Congress 90 days to divest their stock holdings.
An eclectic group of lawmakers has unveiled a bill that aims to prevent members of Congress from profiting off insider information by prohibiting them from owning and trading stocks.
Ocasio-Cortez said the ability lawmakers have to trade stock has eroded the public's trust in elected officials. U.S. lawmakers are allowed to buy and trade stocks in corporations but are required by law to publicly disclose their dealings under the Stop Trading on Congressional Knowledge Act. However, the STOCK Act has been less than successful. The penalty is quite small — typically about $200 — and is often waived by ethics committees anyway.
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