Senator Kaine cosponsoring bill to ban stock trading by members of Congress
CHARLOTTESVILLE, Va. (WVIR) - U.S. Senator Tim Kaine (D) is cosponsoring a bill to ban stock trading by individual members of Congress.
Sen. Kaine says that members of Congress should be required to put their money in blind trusts, or invest in mutual funds.
The senator says lawmakers have an unfair advantage because many of them receive information that is not available to the public.
“There’s just too much potential for mischief with the kind of information that we get that’s often classified. We shouldn’t be trading stocks, we shouldn’t be using information to advance our own pocketbook,” Sen. Kaine said.
He also brought up the Fire Grants and Safety Act, which the Senate is debating this week. It would reauthorize support for fire fighters across Virginia.
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