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Senators propose ban on individual stock holdings by members of Congress

Two Democratic senators, Jeff Merkley of Oregon and Sherrod Brown of Ohio, want to prevent a revival of ethically questionable investing on Capitol Hill by proposing legislation to prevent lawmakers and senior aides from trading in individual securities.

Their measure would build on some of the toughest ethical restrictions Congress has imposed on itself in recent years: Seven years ago, Congress passed the Stock Act, which focused on preventing members of Congress from using insider information to profit in the markets.


The bill faces at least initially uphill prospects in the Republican-run Senate. Roll Call reports it would give members six months to sell their portfolios or put them into blind trusts for the duration of their time in office. They would then be allowed to trade only in mutual funds. And members would be barred from the boards of public companies, a provision added to the House-passed political overhaul HR 1 after a GOP House member, Chris Collins of New York, was indicted last year for insider trading in a drug company on whose board he sat. The case was one of the highest-profile alleged ethical transgressions on the Hill in recent years, but Collins won anyway.

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Strengthening Elections, Rights, and Citizen Engagement

Strengthening Elections, Rights, and Citizen Engagement

Strengthening Elections, Rights, and Citizen Engagement

Welcome to the latest edition of The Expand Democracy 5. From Rob Richie, with Eveline Dowling and Juniper Shelley’s assistance, we highlight timely links and stories about democracy at the local, national, and global levels. Today's stories include:

🔁 The primary problem is a lack of general election competition

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Pros and Cons of Congressional Term Limits

The United States Capitol Building, the seat of Congress, on the National Mall in Washington, D.C.

Getty Images, Omar Chatriwala

Pros and Cons of Congressional Term Limits

Background: What are Congressional Term Limits?

While members of the U.S. House of Representatives serve two-year terms and U.S. Senators serve six-year terms, all Congresspeople are eligible for re-election indefinitely. As of 2023, U.S. Representatives served an average term of 8.5 years, while U.S. Senators served an average term of 11.2 years.

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