Growing list of Senate cosponsors for Sen. Ossoff’s legislation
Editorial boards nationwide call on Congress to take action
Washington, D.C. –– U.S. Senator Jon Ossoff’s push to ban Congressional stock trading continues to gain momentum.
Last month, 14 major government reform organizations — from across the political spectrum — united to call on Congress to swiftly pass Sen. Ossoff and Sen. Mark Kelly (D-AZ)’s Ban Congressional Stock Trading Act, which will stop all members of Congress, their spouses, and dependent children from trading stocks — ensuring they cannot use inside information to influence their personal stock trades and make a profit off their public office.
Senators continue to line up behind Sen. Ossoff’s legislation, including key members of Senate leadership: Assistant Democratic Leader Patty Murray (D-WA), Chair of Policy and Communications Committee Debbie Stabenow (D-MI), Secretary of Conference Tammy Baldwin (D-WI), Reverend Raphael Warnock (D-GA), Martin Heinrich (D-NM), Chief Deputy Whip Brian Schatz (D-HI), and Kirsten Gillibrand (D-NY).
And Sen. Ossoff’s push is reverberating across the country, with over 3/4 of Americans supporting the move — including nearly 80 percent of Independents and Republicans — and over a dozen newspapers penning editorials speaking out in favor of the need to ban Congressional stock trading.
“Members of Congress have extraordinary access to privileged information, and we make federal policy,” Sen. Ossoff said. “We shouldn’t be trading stocks or permitted to trade stocks while we do so.”
“Since I took office, I’ve been focused on bringing more accountability and transparency to Congress so this place can actually work for Arizonans. I’m glad our legislation to clean up Washington is gaining momentum and support. I’m going to continue working to ensure that elected leaders are delivering results for the people they represent, not themselves and not special interests,” said Sen. Kelly.
“People should always come before profits. The Ban Congressional Stock Trading Act is an important step to ensure lawmakers are focused on bettering the lives of the people they represent, not bettering their bank accounts,” said Sen. Reverend Warnock. “I’m pleased to join Sen. Ossoff and a growing number of my colleagues to increase accountability for elected officials and restore faith in our government.”
“Members of Congress shouldn’t trade individual stocks – plain and simple,” said Sen. Heinrich. “I’m proud to cosponsor this common-sense legislation that makes sure Congress prioritizes people over personal gain.”
“Simply put, Senators and members of Congress shouldn’t be using insider knowledge to make money in the stock market. Their stock portfolios should not be driving their policymaking, and we need to avoid even the slightest suggestion that this might be the case,” said Sen. Murray. “The Ban Congressional Stock Trading Act is an overdue and commonsense step to provide some much-needed transparency to government and ensure our federal elected officials are focused on serving their constituents — not lining their own pockets.”
“The American people need to know that their elected leaders are putting their constituents’ interests — not their own financial interests — first,”Sen. Gillibrand said. “That is the job we were sent to Washington to do. And that is why I am proud to be a co-sponsor of the Ban Congressional Stock Trading Act.”
“There is an inherent conflict of interest for Members of Congress who have access to information impacting the stock market that is not available to the general public,” said Sen. Stabenow. “Legislators have access to information and create laws that can impact entire industries. These actions can have a significant influence on stock prices. This legislation will prevent potential conflicts of interest and strengthen public trust in our government.”
“I don’t believe members of Congress should be taking the information they have and trading stocks to enrich themselves while making public policy. It’s our job to serve the people, not ourselves, and I support the Ban Congressional Stock Trading Act because it will help prevent corruption in Washington,” Sen. Baldwin said. “This legislation will help ensure that members of Congress are focused on delivering results for the people we work for, and not making decisions that deliver profits to their own bank accounts.”
Editorial Boards and newspapers nationwide are calling on Congress to act and ban members of Congress from trading stocks:
- Winston-Salem Journal Editorial: Our view: Stop Congress’ sour stock trades
- The Washington Post Editorial Board: Members of Congress should not be allowed to trade individual stocks
- The Washington Times: Those making federal policy shouldn’t be playing the stock market
- Los Angeles Times: Editorial: No more stock trading for members of Congress
- The Market Free Press: Our View: Members of Congress shouldn’t be trading stocks
- The New York Times: Opinion: Congress Can Trade Stocks or Keep the Public Trust. Not Both.
- St. Louis Post-Dispatch: Members of Congress playing stocks erodes public trust
- The Post and Courier: Editorial: Crack down on insider trading in Washington
- Bloomberg Law: Why Members of Congress Should Not Trade Stocks
- The Washington Post: Opinion: Congress could finally ban its members from trading stocks — and not a moment too soon
# # #