Lawmakers from both sides of the aisle —including polar opposites Rep. Matt Gaetz (R-FL) and Rep. Alexandria Ocasio-Cortez (D-NY) —are coming together to ban lawmakers from trading stocks while holding public office.
The Bipartisan Restoring Faith in Government Act would stop lawmakers, their spouses, and their dependents from making money using insider info for stock trades.
“The fact that members of the Progressive Caucus, the Freedom Caucus, and the Bipartisan Problem Solvers Caucus, reflecting the entirety of the political spectrum, can find common ground on key issues like this should send a powerful message to America,” Rep. Brian Fitzpatrick (R-PA), another sponsor of the bill, said in a statement. “We must move forward on issues that unite us, including our firm belief that trust in government must be restored, and that members of Congress, including their dependents, must be prohibited from trading in stocks while they are serving in Congress and have access to sensitive, inside information.”
“Members of Congress are spending their time trading futures instead of securing the future of our fellow Americans. We cannot allow the Swamp to prioritize investing in stocks over investing in our country,” Gaetz said.
“When members have access to classified information, we should not be trading in the stock market on it. It’s really that simple,” Ocasio-Cortez said.
From The Daily Wire:
The act is one of several legislative proposals to introduce bans on individual stock trading by lawmakers and their relatives: Sen. Josh Hawley (R-MO) earlier this year introduced the Preventing Elected Leaders from Owning Securities and Investments Act, also known as the PELOSI Act, while Rep. Pramila Jayapal (D-WA), Rep. Matt Rosendale (R-MT), and Rep. Ken Buck (R-CO) introduced a similar bill two months ago.
More over at The Daily Wire:
AOC And Matt Gaetz Team Up To Ban Stock Trading Among Lawmakers https://t.co/T8p0CBW89t pic.twitter.com/sEzIiZInE0
— Daily Wire News (@DailyWireNews) May 3, 2023