The Hill: Bipartisan duo reintroduces bill banning members of Congress, family from trading individual stocks


A bipartisan pair of House lawmakers have reintroduced a bill to ban members of Congress and some of their family from trading individual stocks while they are in office.

Reps. Abigail Spanberger (D-Va.) and Chip Roy (R-Texas) dropped the Trust in Congress Act on Thursday, marking the third time that the unlikely duo has introduced the legislation. It would stop members of Congress, their spouses and their dependent children from trading individual stocks while serving in their elected position. They previously introduced it in June 2020 and January 2021.

“Members of Congress — through our votes, through our actions — have the ability to move markets,” Spanberger said in a joint appearance with Roy on CNBC. “And as a result of that reality, members of Congress shouldn’t be able to buy or sell individual stocks.”

But the move to ban congressional stock trading has been pushed aside for years. Last year lawmakers toiled over a possible agreement to get the proposition passed, but no breakthrough in talks emerged. Even support from then-Speaker Nancy Pelosi (D-Calif.) was not enough to find consensus.

A 2022 analysis by The New York Times found that nearly 20 percent of members of Congress were buying or selling stocks where there may be a conflict of interest.

Spanberger and Roy continue to bang the table for the issue to receive formal consideration. Roy made clear that the pair was willing to consider other ways of solving the issue, asserting that it isn’t “our way or the highway.”

“We want to start this conversation,” Roy said. “We think [this bill] is a good model. But if we want to talk about different ways to do it … let’s figure out how to make it work.”

Recent Posts

Feb 22, 2024

Spanberger Urges Health Insurers to Fully Cover Birth Control, As Required by the Affordable Care Act

This Effort Comes After Years of Systemic Noncompliance by Insurance Plans & Women Paying Out of Pocket or Facing Administrative Red Tape to Access Birth Control WASHINGTON, D.C. — U.S. Representative Abigail Spanberger today joined more than 150 U.S. House and U.S. Senate colleagues in urging health insurers to improve access to birth control by […]

Feb 21, 2024

Spanberger Announces Sixth Annual Congressional Art Competition, Invites Virginia High School Students to Submit Artwork

The Winner’s Artwork Will Be Displayed in the U.S. Capitol Building for One Year Alongside Winners from All 50 States WOODBRIDGE, Va. — U.S. Representative Abigail Spanberger today invited high school students from Virginia’s Seventh District to submit original artwork for the annual Congressional Art Competition. Every year, Members of the U.S. House of Representatives […]

Feb 16, 2024

ICYMI: Spanberger Hosts Virtual Telephone Town Hall Focused on Issues Facing Virginia Veterans & Military Families

During Thursday’s Interactive Event, the Congresswoman & Representatives from the Virginia Department of Veterans Services Were Joined by More Than 4,100 Virginians WOODBRIDGE, Va. — On Thursday, U.S. Representative Abigail Spanberger hosted an open, public telephone town hall focused on issues facing Virginia’s Veterans, military families, and caregivers. During the event, Spanberger was joined by representatives […]