Washington, D.C. – U.S. Rep. Joe Neguse, a Democrat from Colorado, has joined a growing movement in Congress pushing for a ban on stock trading by members of Congress, a measure aimed at addressing concerns over insider trading and the misuse of public office for personal financial gain.
Neguse, who represents Colorado’s 2nd Congressional District, is one of the co-sponsors of the Restore Trust in Congress Act, introduced by Republican Rep. Tim Burchett of Tennessee. This bipartisan bill seeks to strengthen existing laws and would prohibit members of Congress, their spouses, and dependent children from holding or trading stocks. The legislation is designed to close gaps in current regulations and to restore public confidence in Congress.
What’s at Stake: The Need for Stronger Restrictions
Supporters of the bill believe that additional action is necessary beyond the existing Stop Trading on Congressional Knowledge Act (STOCK Act) of 2012. The STOCK Act already prohibits Congress members, executive branch officials, and federal employees from using nonpublic information gained through their positions for personal financial gain. It also mandates the disclosure of stock trades over $1,000 within 30 to 45 days.
However, critics argue that the STOCK Act has not been sufficient to prevent conflicts of interest. Dan Savickas, the vice president of policy and government affairs at the Taxpayers Protection Alliance, pointed out during a recent House Administration Committee hearing that members of both political parties, on average, have outperformed the market. This has led to growing concerns over the ethical implications of Congress members trading stocks while in office.
Bipartisan Effort to Force a Vote
After months of inaction on the bill, Republican Rep. Anna Paulina Luna of Florida introduced a discharge petition in late November, pushing for a vote on the bill. This tactic allows lawmakers to force a vote on a bill that has not yet been scheduled by House leadership. Neguse signed the petition, joining 27 Democrats and 15 Republicans who are advocating for the bill to be brought to the floor. The discharge petition requires 218 signatures to trigger a vote.
While Speaker of the House Mike Johnson has expressed concerns about the bill, citing that some members of Congress may need additional income to support their families, many proponents of the bill argue that lawmakers should not be allowed to benefit financially from their positions.
Neguse, a strong advocate for the bill, has emphasized the importance of addressing this issue quickly. “For four years, I’ve led an effort to ban stock trading by Members of Congress, joined with colleagues on both sides of the aisle,” Neguse said. “As elected officials, we should be responsible for serving our communities, our constituents, and our country—not our personal interests and certainly not our stock portfolios.”
Public and Social Media Reactions
The push for a stock trading ban has garnered widespread support across both parties, with many citizens and watchdog organizations backing the effort. Social media platforms have seen an outpouring of support for the Restore Trust in Congress Act, with citizens praising the move as a necessary step in restoring trust in government and holding elected officials accountable.
Some Republican and Democratic lawmakers, including Rep. Marjorie Taylor Greene, have expressed differing views on the issue, with Greene suggesting that it is not simply a matter of stock trading but also about the broader topic of Congressional transparency and ethics.
What Happens Next?
Despite the growing support for the bill, Speaker Mike Johnson has not yet scheduled a vote on the legislation, citing concerns over its impact on congressional operations. However, the introduction of the discharge petition signals that there is mounting pressure to act on the issue. As the push for the bill intensifies, advocates like Neguse continue to call for an immediate vote to ban stock trading in Congress, insisting that the matter should not be delayed further.
Neguse’s efforts are part of a broader legislative agenda, the End Corruption Now initiative, which includes other bills designed to prevent elected officials and government employees from taking advantage of their positions for personal gain. As the debate over congressional ethics continues, it remains to be seen whether this bipartisan effort will lead to meaningful change in how lawmakers approach financial transparency.
This story may be updated with more information as it becomes available.
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