Spanberger pushes TRUST in Congress Act
WASHINGTON D.C. (CBS19 NEWS) -- Seventh District Congresswoman Abigail Spanberger pushing hard to prevent sitting members of Congress from profiting from their time in office.
Spanberger testified before the US House Committee on House Administration Wednesday. The bipartisan legislation called the TRUST in Congress Act seeks to ban members of Congress — as well as their spouses and dependent children — from buying or selling individual stocks.
"We — the people's elected officials — have access to information that can move markets. We — who have been sent to Washington, D.C. to represent our constituents — are expected to use this information to make smart decisions, not benefit our personal financial portfolios," said Spanberger.
Under this bill, members of Congress would be required to put certain investment assets into a qualified blind trust during their time in Congress. Doing so would effectively ban them from trading individual stocks.