ReFormers Caucus Calls for the Renewal of Bipartisan Talks to Ban Insider Trading in Congress

Following today’s markup by the Committee on House Administration during which the Stop Insider Trading Act was considered — legislation that Committee Chair Rep. Brian Stiles (R-WI) introduced that would prohibit only sitting members from purchasing new stocks — Amb. Tim Roemer (D-IN), co-chair of Issue One’s ReFormers Caucus, issued the following statement:

“Congress should not put forward a stock ban bill without the essential ‘ban’ and thereby trick the American people. We already have bipartisan legislation on congressional stock trading that actually restores trust and prevents corruption.

“If leaders on both sides of the aisle are serious about reform and restoring trust in public service, advancing a cynical political ploy designed to capitalize on a popular issue without offering a substantive fix will only further erode confidence in the institution.

“Democrats and Republicans must put their differences and partisan attitudes aside, return to the negotiating table, and pass meaningful reform that ends congressional stock trading, such as the bipartisan Restore Trust in Congress Act, and once again give meaning to the honor of serving the American people in Congress.

“The American people deserve to know they have elected officials who work for them, rather than prioritizing their own pocketbooks. This endless back and forth undermines trust in government and weakens our democracy. Let’s pass that bill now and stop the cynical and ineffective posturing.”

Background

In September 2025, a bipartisan working group of members of Congress negotiated the Restore Trust in Congress Act, a compromise proposal that would prohibit members of Congress, their spouses, and dependent children from owning or trading individual stocks while serving in Congress.

Nearly 100 former elected officials called on Congress to include the bipartisan proposal in a must-pass legislative package before the end of the year. Similarly, the ReFormers Caucus prompted rank-and-file members to support a discharge petition filed by Rep. Anna Paulina Luna (R-FL) and supported by all of the original members that introduced the bipartisan consensus bill, including 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), and Raja Krishnamoorthi (D-IL).

On January 12, Reps. Magaziner, Jayapal and Ocasio-Cortez, urged Speaker of the House Mike Johnson to move the Restore Trust in Congress Act, the bipartisan consensus bill that has wide support from members of both parties.