No Option for Stock Trading and Ownership as a Check to Keep congress clean Resolution NO STOCK Resolution
Impact
If enacted, HR156 would lead to significant changes in the conduct of elected officials. Proponents of the bill argue that eliminating stock ownership will prevent lawmakers from making decisions influenced by their personal financial stakes. This, they believe, will lead to more accountability and transparency in governmental actions. The bill reflects an increased public demand for ethical conduct in politics, particularly in light of concerns over insider trading and the leveraging of privileged information for personal gain.
Summary
HR156, known as the 'No Stock Trading and Ownership as a Check to Keep Congress Clean Resolution', seeks to amend the rules governing the House of Representatives by prohibiting its members from owning individual stocks. The resolution aims to enhance ethical standards and ensure that members of Congress are not compromised by personal financial interests while serving the public. By eliminating the potential for conflicts of interest, the bill seeks to restore public trust in governmental operations and decision-making processes.
Contention
Despite broad support for stricter ethics involving financial accountability, the bill faces challenges. Some lawmakers may argue that such a prohibition could deter qualified candidates from seeking office, as they may resist relinquishing personal financial holdings. There is also a concern regarding how this regulation would be enforced and whether it might infringe upon personal rights in financial matters. The debate around HR156 underscores the tension between personal freedoms and the need for public accountability in governance.
Closing the Bump Stock Loophole Act of 2023 This bill subjects bump stocks to regulation under federal firearms laws. Specifically, the bill adds bump stocks to the list of firearms subject to regulation (e.g., registration and licensing requirements) under the National Firearms Act. Additionally, it includes bump stocks in the list of firearms subject to regulation (e.g., background check requirements) under the Gun Control Act of 1968.