Ending Stock Trading in Congress

The American people are sick and tired of Washington playing by a different set of rules — and rightfully so. Half of my colleagues are already millionaires. Many of them got wealthy thanks to profits they’ve made on the stock market, which is out of touch with the growing number of people who are struggling to make ends meet. 

Building wealth isn’t inherently wrong, but it shouldn’t come at the cost of losing the trust of those we represent, which is why I don’t trade individual stocks, and I don’t think my colleagues should either. It’s also why I helped introduce the Stop Insider Trading Act to finally bring that corrupt practice to an end.

This long overdue legislation bans each member of Congress, his or her spouse, and their dependent children from purchasing publicly traded, individual stocks. It also requires members to give public notice between 7 and 14 days in advance of any intended sale of a stock they already owned. Anyone who violates the law would be fined at least $2,000 or 10% of the value of the stock, whichever is greater, plus any net gain realized from the sale.

The bottom line is this: The Stop Insider Trading Act is a necessary step towards restoring accountability and eliminating the corruption that has helped career politicians get rich while working families were left behind. I am proud to help lead this effort to my Blueprint for a Better America designed to challenge the status quo and restore trust in government.

To learn more about this reform agenda, click here.

You can also read the Stop Insider Trading Act here.