Paging Nancy Pelosi: Ban On Congressional Trading Could Be Coming
Portfolio Pulse from Chris Katje
Legislation has been introduced by two members of Congress to ban members of Congress from buying and selling stocks. The bill, introduced by Sens. Kirsten Gillibrand (D-NY) and Josh Hawley (R-MO), would prevent members of Congress, the president, vice president, executive branch employees, and Capitol Hill aides from owning stocks in individual companies. They would, however, be allowed to own mutual funds and index funds. The bill also calls for penalties for those who violate the rules. The legislation comes amid strong public support for such a ban.
July 19, 2023 | 5:19 pm
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NEGATIVE IMPACT
The proposed legislation could impact the Unusual Whales Subversive Republican Trading ETF (KRUZ) as it tracks Congressional trading activity.
The proposed legislation could limit the trading activities that the KRUZ ETF tracks, potentially affecting its performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The proposed legislation could impact the Unusual Whales Subversive Democratic Trading ETF (NANC) as it tracks Congressional trading activity.
The proposed legislation could limit the trading activities that the NANC ETF tracks, potentially affecting its performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80