“An overwhelming majority of Americans favor banning members of Congress from trading stocks, but efforts to turn that public sentiment into law have long sputtered.
That’s because the lawmakers who would have to approve any overhaul of congressional investing stand to suffer considerable financial impacts — not least of which are potentially hefty tax liabilities if they are forced to sell off long-held stocks.
Now the issue is coming to a head with a new House bill that has a strange-bedfellows coalition of hardcore conservatives and good-government liberals behind it, and they are hoping they can convince their more skeptical colleagues to accept some new financial realities.”
John Iadarola and Jayar Jackson break it down on The Damage Report.
Read more here: Congress eyes stock-trading ban — with tax break sweetener
