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Culpeper Star-Exponent: ‘A violation of the public trust’—Virginians weighs in congressional stock trading ban

Apr 03, 2023
Good Governance
In the News

CULPEPER STAR-EXPONENT

A vast majority of Virginians support a ban on stock trading among members of U.S. Congress and their immediate families, according to results of a recent survey by U.S. Rep. Abigail Spanberger, D-7th.

An estimated 92 percent of more than 1,900 respondents said they oppose allowing lawmakers, their spouses or children to make decisions about stocks they are buying, trading, or selling while they are serving in the U.S. House or U.S. Senate, according to a recent release from Spanberger’s office.

Her legislation to require lawmakers and their families to put investment assets into a qualified blind trust during their entire tenure in Congress has more than 50 Democratic and Republican cosponsors, the release stated.

“Prohibiting Members of Congress, their spouses, and their dependent children from buying, trading, or selling stocks while serving in elected office is a necessary step towards restoring trust between the American public and their elected officials,” said Spanberger in a statement.

“Congress should be taking concrete, proactive steps to avoid even the potential perception of self-dealing,” she said.

The Congresswoman’s office provided a sample of survey responses:

“As a federal employee and OGE 450 filer, my financial decisions need to be disclosed on an annual basis and I am not allowed to buy stocks in certain companies. Why should the members of Congress have a lower obligation/responsibility?” — Sherry, Prince William County

“Members of Congress should serve the public without serving their own interests.” — Timothy, Culpeper

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