Democrats in the House of Representatives will propose a ban on lawmakers, their spouses and senior staff from trading stocks, Punchbowl News reported Thursday.
Citing multiple sources close to the issue, Punchbowl said the choice will be between a qualified blind trust and divesting stocks in portfolios.
Lawmakers, spouses and staff would be able to hold mutual funds.
The aim is for legislation to move through Congress in September, Punchbowl said. But it's unclear if 60 Senate votes could be found to support a bill.
The inclusion of spouses would be a significant hurdle, especially for lawmakers married to those in finance and investment jobs.
Stock trading by lawmakers, who are not subject to insider trading laws, has become a big and controversial issue, especially given the close connection to stock performance and legislative efforts to boost the economy.