PROVIDENCE, R.I. (WPRI) — Rep. Seth Magaziner is pushing for legislation that would prevent members of Congress from trading stocks. Magaziner announced Tuesday that he and Rep. Chip Roy, R-Texas, introduced the TRUST in Congress Act, which would stop congressional stock trading. The legislation would either prohibit elected officials and their immediate family members from trading stocks or require them to shift their investments to a qualified blind trust while in office. If the bill becomes law, current members would have 180 days to comply, while newer members would have 90 days. "Trust in Congress is at an all time low, but we can strengthen the integrity of our government by ensuring members of Congress are serving their constituents and not their stock portfolios," Magaziner said. "I am proud to introduce this bipartisan, commonsense bill with Representative Chip Roy to ban members of Congress — and their families — from trading individual stocks, so that we can hold Washington accountable to the people it serves." Magaziner's predecessor, former Rep. Jim Langevin, faced criticism for trading stocks. In his first run for the 2nd Congressional District in 2022 after Langevin retired, Magaziner promised in a TV advertisement that he'd support this bill. READ MORE: Langevin tops $1 million in Wall Street trades for 2022 despite backing a ban This bill was previously sponsored by Roy and Rep. Abigail Spanberger, D-Virginia. Magaziner took over as the lead Democratic sponsor after Spanberger didn't seek re-election. "Now that Abigail has retired, I am proud to reintroduce this critical and bipartisan legislation alongside my friend Rep. Magaziner," Roy said. "We have a long road ahead to address it this Congress, but we can and should fix the problem during this term." Magaziner said the bill is cosponsored by 45 members of Congress. NEXT: Pete Hegseth vows a ‘warrior culture’ if confirmed as Trump’s defense secretary, confronting critics Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily Roundup SIGN UP NOW