Congress Moves Closer to Barring Lawmakers , From Trading on Stock Market.<br />CNBC reports Democratic leaders have decided to move forward in drafting legislation that would ban members of Congress from trading stocks.<br />Under the direction of House Speaker Nancy Pelosi, the House Administration Committee <br />is currently drafting the legislation.<br />According to CNBC, the legislation will receive a vote before the November midterm elections.<br />When you’re elected, you’re here to <br />serve the people, not the elite, <br />and [a stock trading ban] <br />I think is a step forward, , Senator Steve Daines, (R), Montana, via CNBC.<br />... an important step forward, to restore the faith and trust of the American people in this institution. , Senator Steve Daines, (R), Montana, via CNBC.<br />A move to support a ban on stock <br />trading for members of Congress<br />is a dramatic shift for Pelosi, .<br />after years of rejecting <br />the idea of implementing limits on <br />how lawmakers can invest.<br />Congressional leaders have long <br />said a ban on stock market trading would make it <br />harder to recruit qualified candidates to run for office.<br />Meanwhile, associates of members <br />of Congress have become quite wealthy <br />by playing the stock market, including <br />those affiliated with Pelosi.<br />A recent survey conducted by <br />conservative advocacy group <br />the Convention of States Action, .<br />found 76% of voters thought lawmakers <br />and their families had an "unfair advantage" trading on the stock market.<br />Merely 5% of voters surveyed approved <br />of lawmakers trading stocks.<br />According to data from Business Insider, <br />last year, 54 members of Congress <br />violated the 2012 STOCK Act, legislation designed to prevent insider trading
