Sign the petition: Ban Congress members from trading stock
We recently learned that in February of 2020, shortly after Senator Rand Paul received a Senate committee briefing on the coronavirus, his wife invested in Gilead, the drug company that makes the COVID-19 treatment Remdesivir. The couple had not purchased individual stock for more than a decade before that. Days later, Sen. Paul voted against the emergency spending bill that helped countless Americans stay afloat through the outbreak.
Members of Congress can have access to inside information that would be illegal to use for investment in any other industry. Should Congress knowingly be allowed to use that information to make money? The Answer is NO!
In 2012, the STOCK Act made it illegal for Congress members to use insider knowledge for stock trading and required members to disclose transactions within 45 days. Since then, lawmakers on both aisles have repeatedly and consistently violated the law. Clearly, it's not enough. Threats of fines at bargain prices — as low as $200 — compared to market gains are NOT enough.
Politicians are using inside knowledge in the wake of a deadly pandemic to enrich themselves, while their constituents struggle to make ends meet.
When members of Congress engage in stock trading, it undermines public confidence in our government and our democracy.
The solution is the bipartisan Ban Conflicted Trading Act introduced in Congress this past spring. It would prevent insider trading by prohibiting lawmakers and high-level staffers from buying and selling individual stocks.
Sign the petition: Tell Congress to pass the Ban Conflicted Trading Act banning members from trading stock and stop making money off every crisis America faces.
Defend The Vote PAC
The Juggernaut Project
Moms Fed Up
Progressive Reform Network