Lawmakers Who Care About Ending Insider Trading Should Support the Bipartisan Restore Trust in Congress Act

Washington, D.C. — Government watchdogs are urging lawmakers to take action on the bipartisan Restore Trust in Congress Act and expressing concerns that alternative measures that lack support from both parties will only torpedo efforts to ban stock trading in Congress.

Dylan Hedtler-Gaudette, acting vice president of policy & government affairs at the Project On Government Oversight (POGO), issued the following statement:

“True bipartisan cooperation in Congress is all too rare. The Restore Trust in Congress Act is one of the few pieces of legislation that has animated lawmakers on both sides of the aisle to crack down on a problem that has plagued the halls of Congress for decades: insider trading.

“This comprehensive bill prevents members, their spouses, and their dependents from gaming the system, while still protecting their ability to invest in the economy like any other consumer. Any lawmakers who truly care about stopping insider trading once and for all should support this bill. And yet, a small group of lawmakers is attempting to thwart these bipartisan efforts by introducing an inflated alternative bill that has little chance of passing.

“There should be stronger protections against insider trading across all branches of government. But we also have to recognize that years of inaction have allowed dozens of representatives to make ethically questionable stock trades for their own financial gain. Failure to act now on this viable, bipartisan legislation would be a political and ethical failure.”