A ban on Congressional stock ownership simply cannot wait any longer. Speaker of the House Nancy Pelosi and Senate Majority Leader Schumer need to step up and lead by publicly committing to bring a Congressional stock ban up for a vote in early September.
CREW and 21 other good government groups including Campaign Legal Center, Project on Government Oversight, Public Citizen, MoveOn and Indivisible sent a letter to Pelosi and Schumer urging them to act on a comprehensive Congressional stock ownership and trading ban.
Congress has made progress towards a bipartisan ban, but it’s up to Congressional leaders like Pelosi and Schumer to get a ban over the finish line.
A strong bill must include key provisions like a total ban on the ownership or trading of stocks and other similar financial instruments, the inclusion of members’ spouses and dependent children, and a clear enforcement mechanism to serve as a deterrent to. Our coalition believes that ongoing negotiations and continued public pressure will lead to a strong bill that includes these provisions.
Every new story about a member of Congress failing to disclose their stock trades or owning a stock that poses a conflict of interest continues to erode the public’s confidence and trust in Congress. Our coalition calls on Pelosi and Schumer to make a public commitment now, and bring a comprehensive stock ban to a vote in early September.