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Magaziner says wave of campaign ads shows momentum for congressional stock trading ban

The Rhode Island Democrat, lead sponsor of a bill to bar members of Congress, the president and the vice president from trading stocks, said candidates from both parties are now pledging support for a ban.

WASHINGTON — U.S. Rep. Seth Magaziner, D-R.I., said Friday that a growing number of campaign ads pledging to end stock trading by members of Congress shows his effort to ban the practice is gaining momentum.

Magaziner is the lead sponsor of the Restore Trust in Government Act, which would ban members of Congress, the president and the vice president from trading stocks. His office described it as the leading bill on the issue.

"Candidates from both parties are now pledging their support to ban stock trading in Congress, which shows just how much momentum our effort has built to end the corruption in Washington," Magaziner said in a statement.

"The American people want a complete stock trade ban for lawmakers, and the unprecedented number of ads and candidates in support of a ban show we are set up for success in the new Congress to get this across the finish line," he said.

Citing reports it did not identify, Magaziner's office said candidates and groups in more than 80 races across the country have spent more than $117 million on TV ads about stock trading by lawmakers, and that more than 240 separate campaign ads have aired on the topic.

The office said the bill is supported by House Minority Leader Hakeem Jeffries.

The statement did not name any of the candidates or races involved, and it included no response from opponents of a ban.

This brief was drafted by AI from a public agency or political press release and published by The New England Signal. Why we use AI for stories like this one.

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