Providing for consideration of the bill (H.R. 1908) to prohibit stock trading and ownership by Members of Congress and their spouses and dependent children, and for other purposes.
Summary
H.Res. 665 proposes a rule for the House of Representatives to consider H.R. 1908, the 'End Congressional Stock Trading Act'. This bill aims to prohibit Members of Congress, their spouses, and dependent children from trading and owning stocks, bonds, commodities, and other securities. The resolution outlines the process for debating and amending the bill, including waiving certain points of order and specifying an amendment to replace the original text.
Expected Effects
If passed, H.R. 1908 would significantly restrict the financial activities of members of Congress and their immediate families. It mandates divestment of existing holdings and establishes penalties for violations. The goal is to eliminate potential conflicts of interest and enhance public trust in government.
Potential Benefits
- Reduces potential conflicts of interest for members of Congress.
- Increases public trust in government and elected officials.
- Promotes a perception of fairness and impartiality in legislative actions.
- May encourage members of Congress to focus on broader economic policies rather than personal financial gain.
- Could lead to more ethical behavior and accountability among elected officials.
Potential Disadvantages
- May discourage qualified individuals from seeking public office due to financial restrictions.
- Could be seen as an infringement on personal financial freedoms.
- Potential difficulties in enforcing and monitoring compliance.
- May lead to increased reliance on outside financial advisors, potentially creating new avenues for influence.
- Possible legal challenges based on equal protection or due process grounds.
Most Disadvantaged Areas:
Constitutional Alignment
The resolution itself, H.Res. 665, is procedurally aligned with Article I, Section 5, which grants each house of Congress the power to determine the rules of its proceedings. The underlying bill, H.R. 1908, could be viewed as an effort to ensure that members of Congress act in accordance with their duties, promoting a more perfect union as stated in the Constitution's preamble.
However, some might argue that the restrictions on personal financial activities could potentially infringe upon individual liberties, raising questions under the Fifth Amendment's due process clause. The balance between preventing conflicts of interest and protecting individual rights would need careful consideration to ensure full constitutional alignment.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).