Trust us: The labor market’s fine

First in MM: Schiff, Min pitch updates to financial disclosures — California Democrats Sen. Adam Schiff and Rep. Dave Min introduced a bill that would require government officials to provide more detail about large financial holdings and income. Under the Financial Disclosure Modernization Act, officials would have to report income sources and holdings that exceed $1 billion. The highest income threshold reportable under current law is anything greater than $5 million, and the highest value category for other holdings is for anything that exceeds $50 million.

“Elected officials should be serving the public interest, not their own personal financial interest, and greater transparency is needed for both members of Congress and the president and vice president,” Schiff said in a statement, adding that the changes would “increase transparency and accountability behind the financial holdings of government officials.”