A new piece of legislation is being proposed that could go as far as to restrict members of Congress, their families, and their staff members from participating in the stock trade.
The proposal comes from House Democrats, and the Committee on House Administration is expected to release the framework for the legislation next week, according to a report from Bloomberg.
The news comes from someone who spoke with Bloomberg that is familiar with the matter but asked for anonymity.
When asked about the possibility of the legislation on Thursday, Rep. Zoe Lofgren (D-Calif.), the head of the committee, shared, "We'll have something very soon."
In the Senate, there have also been discussions around creating some form of legislation to restrict stock trading by lawmakers, an issue that has bipartisan support.
House Speaker Nancy Pelosi (D-Calif.) and House GOP leader Kevin McCarthy (R-Calif.) both shared they would support restrictions if legislation were proposed.
Her opponents on the right have long criticized Pelosi for her husband's involvement in the stock market. Earlier this month, she was asked during a press conference if her husband had ever made a stock purchase or sale based on information he received from her.
Walking off the podium, she laughed, saying, "no, absolutely not."
Still, it is unclear whether family members will be included in any ban on trading through the legislation, as lawmakers continue to work on the proposal, according to Bloomberg.
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