Bipartisan Coalition Demands Vote on Legislation to Bar Congressmen from Stock Trading

Contact Your Elected Officials

A bipartisan group of more than two dozen lawmakers in the House is demanding that Speaker of the House Nancy Pelosi (D-Calif.) allow a vote on a bill that would bar members of Congress from trading on the stock market, which critics say is inappropriate due to Congress’ inside knowledge on financial and political affairs.

The demand was made in a Jan. 24 letter spearheaded by Rep. Jared Golden (D-Maine). A total of 27 lawmakers signed Golden’s petition, including 25 Democrats and two Republicans.

In the letter’s opening line, the coalition demands that Pelosi “swiftly bring legislation to prohibit members of Congress from owning or trading stocks.” Two bills that would do just that, the “Ban Conflicted Trading Act” and the “TRUST In Congress Act,” have been sitting in congressional limbo.

The responsibility to bring them out of this limbo lies largely with Speaker Pelosi, but she has thus far made no effort to bring either bill to the floor for a vote.

Golden argued that such a ban would be a “common sense measure” that is “supported by Americans across the political spectrum.”

A recent poll vindicates this latter claim.

The poll, conducted by the conservative group Convention for States Action in conjunction with Trafalgar, found that more than three-fourths of Americans believe that lawmakers have an “unfair advantage” over others in the stock market.

Speaking on the poll results, Mark Meckler, president of Convention of States Action, said, “Congress has a history of passing laws that make it appear as if they are behaving ethically, while continuing to do things that are not honest nor ethical. This issue has received a lot of attention, and this data verifies the American people want this practice to end once and for all.”

This issue has a storied history in Congress.

In 2012, Congress passed the STOCK Act, a bill that required members of Congress to publicly disclose their financial transactions. However, a recent investigation by Insider found that a laundry list of lawmakers in both the House and Senate had violated the provisions of that law.

In view of this, the lawmakers write, “It’s clear the current rules are not working.”

In another recent example of potential insider trading, several members of Congress allegedly sold off stock ahead of the crash precipitated by the CCP (Chinese Communist Party) virus. These members had received nonpublic briefings on the developing virus, leading many to believe that their sudden stock sales were carried out on the basis of this knowledge.

“The law prohibits only those stock trades that members of Congress make or direct because of their nonpublic knowledge,” Golden explains in his letter.

“But it can be nearly impossible to determine what counts as ‘nonpublic knowledge’ or how personally involved members are in their stock trades.”

“Instead,” the lawmakers demand, “Congress should close these loopholes by simply banning members from owning or trading individual stocks while in office.”

“We came to Congress to serve our country, not turn a quick buck,” the lawmakers continue.

“While there are many difficult questions facing Congress, this is an easy one,” the letter concludes. “Members of Congress should not be allowed to own or trade individual stocks. Let’s get this done.”

The letter is a rare show of bipartisanship, including a very unlikely alliance of America First conservatives and left-wing progressives.

By Joseph Lord

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

Why Democracy, not Caesar, is the answer to our problems

Caesar-style leadership wins quick public support but inevitably sparks passionate resistance, conflict, bloodshed, and lasting social destabilization.

WATCH: Barack Obama Foments Color Revolutions in Eastern Europe

Obama astroturfed “pro-democracy” movements in Poland and Hungary to pressure their govts into accepting mass migration and social engineering.

J.B. Pritzker Puts the ILLeagals in ILLinois

Illinois Gov. J.B. Pritzker, once a California native, has revived the old “ILL” abbreviation—this time in his promotion of ILLegal aliens.

James Franklin’s contract fallout

Penn State’s decision to fire head coach James Franklin after a disappointing 22–21 home loss to Northwestern will cost an estimated $56 million buyout. 

Trump’s Middle East Trip Led to Historic Breakthroughs

Trump’s bold, unconventional strategy helped end the Israel-Hamas war and set the stage for a more stable, prosperous Middle East.

Trump Commutes Sentence of Former Rep. George Santos

President Trump commuted ex-Rep. George Santos’s seven-year prison sentence for fraud and identity theft, ordering his immediate release.

Jack Smith Referred to DOJ for Misconduct Investigation and Possible Disbarment

Former special counsel Jack Smith was criminally referred to the DOJ by Republican lawmakers for alleged misconduct and possible disbarment.

AI Is a ‘Real and Mysterious Creature,’ Not a Predictable Machine, Anthropic Co-Founder Warns

Handling AI is like dealing with “a real and mysterious creature, not a predictable machine,” said Jack Clark, co-founder of Anthropic, at a Berkeley conference.

Trump Refiles $15 Billion Defamation Lawsuit Against New York Times After Court Dismissal

Trump refiled his $15 billion defamation lawsuit against The New York Times, Penguin Random House, and 3 reporters after judge dismissed the case.

Army Corps of Engineers to Pause $11 Billion in Projects During Shutdown: Vought

Russ Vought, director of the White House’s OMB, has added to the growing pile of federal projects paused during the government shutdown.

Trump Signs Executive Order Putting New Restrictions on Federal Hiring

Trump signed an executive order directing federal agencies to restrict hiring, with exceptions for immigration, security, and political appointees.

Trump Says He Has Authorized Covert CIA Operations in Venezuela

President Trump authorized covert CIA operations in Venezuela, expanding U.S. assets there to increase pressure on President Nicolás Maduro’s regime.

Trump Posthumously Awards Charlie Kirk the Presidential Medal of Freedom

President Trump posthumously awarded Charlie Kirk the Presidential Medal of Freedom in the White House Rose Garden on Oct 14, Charlie's birthday.
spot_img

Related Articles

Popular Categories

MAGA Business Central