Sixty. That’s how many Members of Congress have broken the law meant to prevent insider trading on Capitol Hill. Far fewer have faced any real consequences for violating this law, the STOCK Act. The law was put in place to prevent our elected officials from making political decisions that could lead to personal financial gain and from using nonpublic information to trade stocks.
We’ve seen time and again that the existing rules don’t have the teeth to stop members of Congress from putting their personal financial interests above the public interest. It’s no wonder that most voters, regardless of political party, support banning members of Congress, their immediate families, and staff from trading stocks while in office.
Members of Congress make decisions every day that move markets and individual stock prices. When they know which stocks they own and initiate trades, Americans have good reason to doubt that they’re making these decisions with the public’s interest in mind.
This year, legislation to ban congressional stock trading was introduced in both the House and Senate, and it garnered support on both sides of the aisle. But congressional leadership is dragging its feet, and time is running out. We need your help increasing the pressure on Congress to make it happen NOW.