A new bipartisan bill has been introduced, aiming to curb the stock-trading activities of members of Congress. The proposed legislation, crafted by a coalition of conservative and liberal lawmakers, seeks to address widespread concerns regarding the financial influence of legislators and the potential for conflicts of interest. This move comes amid growing public demand for greater transparency and accountability in congressional dealings. The bill’s proponents argue that the financial implications of enforcing a strict sell-off without any form of tax relief are too burdensome for lawmakers, potentially deterring them from seeking public office. By offering a tax deferral mechanism, the legislation aims to make the transition from the current system more financially manageable, thereby increasing the likelihood of its passage and long-term implementation. The bill allows lawmakers to reinvest proceeds from the sale of prohibited securities into mutual funds or Treasuries without immediate tax consequences, similar to measures already in place for executive branch employees. This approach is designed to mitigate the financial burden of divesting long-held stocks, which could lead to significant tax liabilities. However, the measure faces resistance from some lawmakers, whose personal interests are aligned with the status quo. The legislation includes provisions to address these concerns, such as allowing current members to divest their holdings over a set period, making the transition from the current system more manageable. The bill also includes penalties for non-compliance, ranging from fines to the requirement to disgorged profits, emphasizing the seriousness of enforcement. Despite these measures, the bill faces skepticism from some members of Congress, including wealthy representatives and those with connections to financial sectors. They argue that the financial implications and personal stake in the current system make the transition to a stricter regulatory environment challenging. The proposed legislation is seen as a significant shift in the regulatory landscape for Congress, aiming to enhance transparency and reduce potential conflicts of interest by imposing new financial and ethical responsibilities on its members. Additionally, the bill’s backers suggest that the tax deferral is preferable to allowing blind trusts, as the latter could still allow lawmakers to make decisions based on the stocks they know went into their trust. The proposed legislation represents an effort to address these concerns and align with public sentiment for a ban on member trading. It is currently under discussion, and its outcome could significantly impact the financial dealings of lawmakers in the future.