One of Congress’ wealthiest members, Rep. Jefferson Shreve of Indiana, has voluntarily stopped trading individual stocks, his office confirmed to NOTUS.
In June, Shreve “directed the asset manager” of his charitable remainder trust — a kind of tax-advantaged trust that also benefits charities of the owner’s choosing — “to divest from individual stocks,” spokesperson Hannah Benfield said.
“The congressman wants to be transparent and clear that the trust assets will go to charity,” Benfield said. “The transactions made by the trust are to the benefit of charity — and not him personally.”