Issue One praises introduction of bipartisan stock trading ban in the House

In reaction to today’s introduction of the Restore Trust in Congress Act, bipartisan legislation that would ban members of Congress from trading stocks while in office, representatives from Issue One’s ReFormers Caucus issued the following statements:

Ambassador Tim Roemer (D-IN): “Members of Congress are elected to serve the people — not take advantage of sensitive inside information. When lawmakers use insider knowledge for personal gain, it shatters public trust. And when trust in Congress erodes, our democracy suffers. This commonsense ethics reform is vital to reduce the appearance of corruption and help rebuild public confidence in Congress.”

Congressman Charles Boustany (R-LA): “Americans are tired of even the appearance of corruption in Washington. It is time to bring to the floor this bipartisan and long overdue legislation that will help increase transparency and ethical standards in Congress. The American public deserves, at the least, to have faith that their elected officials are working for their best interests and not exploiting their privileged position for personal profit.”

Issue One’s Legislative Director Jamie Neikrie added:

“Three years have passed since House leadership made a commitment to bring a congressional stock trading ban bill to the floor for a vote. Today, a pragmatic bipartisan coalition of lawmakers came forward after months of negotiations with a serious bill that bridges divides and sets the stage for a vote. It’s time to get this much-needed reform across the finish line — no more excuses. Members of Congress have a responsibility to hold themselves to the highest ethical standards, and passing the Restore Trust in Congress Act is how Congress shows it’s serious about restoring trust and integrity in government.”

“We welcome the efforts of leaders ranging from Representatives Fitzpatrick to Magaziner. Today is a critical step for a more transparent and stronger institution. We strongly urge leadership in both chambers to seize this moment and send this bill to President Trump’s desk.”

Background

Earlier this year, a bipartisan group of lawmakers with varying bills convened to develop comprehensive legislation prohibiting federally elected leaders from trading stocks while serving in office. Upon today’s introduction, the co-leads of the Restore Trust in Congress Act are Reps. Chip Roy (R-TX), Brian Fitzpatrick (R-PA), Seth Magaziner (D-RI), Alexandria Ocasio-Cortez (D-NY), Tim Burchett (R-TN), Pramila Jayapal (D-WA), Anna Paulina Luna (R-FL), Raja Krishnamoorthi (D-IL), Scott Perry (R-PA), Dave Min (D-CA), Zach Nunn (R-IA), Joe Neguse (D-CO), Michael Cloud (R-TX), Mike Levin (D-CA), Ralph Norman (R-SC), and Josh Riley (D-NY).

Negotiations in the House came together as a Senate committee advanced similar legislation in July that would prohibit members of Congress from buying stocks and other covered investments.

President Trump, along with members of his cabinet, Speaker Mike Johnson (R-LA), and Minority Leader Hakeem Jeffries (D-NY) have all expressed support for a ban. Moreover, 86% of Americans favor banning stock trading by elected representatives and their families — reflecting overwhelming support for reform across the political spectrum.

Last year, more than 40 members of the bipartisan ReFormers Caucus called on Senate leadership to pass similar legislation.