Bill 119 HR 358 aims to address several key issues related to ethics and accountability within the US Congress. The bill proposes to amend title 5 of the United States Code to prohibit insider trading by Members of Congress and their spouses. This means that lawmakers and their spouses would be prohibited from using non-public information to make financial decisions that could benefit them personally.
Additionally, the bill seeks to amend title 18 of the United States Code to extend the length of the post-employment ban on lobbying by Members of Congress. This would prevent former lawmakers from immediately transitioning into lobbying positions after leaving office, reducing the potential for conflicts of interest and undue influence.
Another significant provision of the bill is the repeal of the automatic adjustment in the pay of Members of Congress. Currently, lawmakers receive automatic pay raises unless they vote to block them. This bill would eliminate this automatic increase, requiring Congress to actively vote on any pay raises.
Overall, Bill 119 HR 358 aims to increase transparency, accountability, and ethical standards within the US Congress by addressing issues such as insider trading, lobbying restrictions, and congressional pay adjustments. By implementing these changes, the bill seeks to promote public trust in the legislative branch and ensure that lawmakers are held to high ethical standards.