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Senators strike bipartisan deal for ban on stock trading by members of Congress

Nancy Pelosi dropped her resistance to a proposed ban on stock trading by legislators in 2022, allowing the policy push to pick up steam on Capitol Hill.

The effort was turbocharged by disclosures that several senators made very profitable trades in the early days of the Covid-19 pandemic, when members of Congress were getting classified briefings that warned of how disastrous the virus could be for the U.S. economy. The effort picked up more steam ahead of the 2022 midterm elections, after former Democratic House Speaker Nancy Pelosi dropped her opposition to it. The then-speaker had previously written off the trading ban as a misguided effort to prevent lawmakers from participating in the "free market economy."

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