Issue One applauds introduction of legislation to combat insider trading in Congress
Senior Communications Manager
Issue One Founder and CEO Nick Penniman praised this week’s introduction of the Ban Congressional Stock Trading Act by Senators Jon Ossoff (D-GA) and Mark Kelly (D-AZ), which would ban members of Congress and their families from buying and selling stocks while in office. This bill follows bipartisan legislation introduced in the House last year by Representatives Abigail Spanberger (D-VA) and Chip Roy (R-TX), which has been co-sponsored by 13 other House Democrats and 5 other House Republicans.
“When members of Congress trade stock while in office, it creates the appearance that they are using insider knowledge for personal profit. Americans must have every assurance that their elected representatives are working for them, not their own personal stock portfolios.
“We’re encouraged to see the issue of congressional stock trading receive renewed bipartisan attention. Congress should seize this momentum and pass into law commonsense ethics reform that will combat corruption and the appearance of corruption. High ethical standards are a cornerstone of a functioning and accountable political system that earns the public’s trust. Prohibiting lawmakers from trading individual stocks while in office will help restore the public’s trust in Congress.”
Issue: Congressional Ethics