Spanberger Presses U.S. House Leadership to Vote on Congressional Stock Trading Ban by September 30
U.S. Representative Abigail Spanberger is pushing U.S. House leadership to bring a bill to the floor of the U.S. House of Representatives for a vote before the end of the month to ban Members of Congress, their spouses, and their dependent children from trading individual stocks while serving in office.
Spanberger and a bipartisan group of eight House colleagues — all of whom have led related proposals to ban stock trading by Members of Congress — sent a letter to Speaker Nancy Pelosi, Minority Leader Kevin McCarthy, and the Chair and Ranking Member of the Committee on House Administration calling for a vote on a congressional stock trading ban by September 30, as well as outlining a list of principles that should be included in any upcoming legislation that would be considered.
Spanberger has long pushed for Congress to enact a ban on individual stock trading by Members of Congress while serving in office. In January 2021, Spanberger and U.S. Representative Chip Roy (R-TX) reintroduced their Transparent Representation Upholding Service and Trust (TRUST) in Congress Act, bipartisan legislation to increase transparency and reduce opportunities for insider trading by requiring that Members of Congress — as well as their spouses and dependent children — put certain investment assets into a qualified blind trust during their entire tenure in Congress.
“We, a bipartisan coalition working to reform stock trading practices in Congress, write to inform you that we have composed a list of first principles for legislation to end stock trading by Members of Congress, and we respectfully urge House leadership and the Committee on House Administration to work with us to bring a bill to the floor for a vote before September 30th, 2022 that follows these principles,” said Spanberger and her colleagues.
The lawmakers continued, “However, in the service of our constituents and to restore trust in our public institutions, we are working together to synthesize our respective legislation into a single bipartisan legislative framework, and as part of that work, we have established a set of shared principles that have guided our own efforts to find consensus and develop a broader legislative framework.”
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