CHARLOTTE, N.C. — Stock trading is as American as apple pie, but now there's a renewed push to ban members of congress from playing the stock market.
More than two dozen House members from both sides of the aisle are calling for House leadership to "swiftly" ban members of Congress from owning or trading stocks while in office.
The 25 democrats and two republicans say members of Congress should be focused on their jobs instead of making a quick buck. The push comes after several lawmakers generated controversy over trades at the beginning of the pandemic.
North Carolina Senator Richard Burr is still under investigation by the securities and exchanges commission. Right now, the Stock Act theoretically bans members from profiting from insider trading, but experts say it's nearly impossible to regulate.
House Speaker Nancy Pelosi initially rejected a trading ban saying "this is a free market," but has since changed course indicating her support. She's also reportedly pushing to levy higher fines for violations of the stock act.
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