The Hill: Lawmakers urge Speaker Johnson to bring stock trading ban to floor for vote


More than two dozen lawmakers called on House leadership Friday to bring a bill banning members of Congress from participating in the stock market to the floor for a vote.

“This is a critical step to ensure Members of Congress are working for their constituents, not themselves,” the group wrote in a letter to Speaker Mike Johnson (R-La.), House Minority Leader Hakeem Jeffries (D-N.Y.) and the top members of the House Administration Committee.

The lawmakers — led by Reps. Angie Craig (D-Minn.), Andy Kim (D-N.J.), Joe Neguse (D-Colo.), Raja Krishnamoorthi (D-Ill.), Katie Porter (D-Calif.) and Abigail Spanberger (D-Va.) — urged House leaders to progress legislation that would prohibit all members of Congress, their spouses and dependents younger than 18 years old from trading stocks.

The remaining signatories to the letter were mostly Democrats, though one Republican, Montana Rep. Matt Rosendale, also signed on.

The push to ban lawmakers from trading stocks reached a new prominence over the past several years after high-profile incidents, but repeated attempts to bring up a bill for a vote have failed.

Specifically, the group called for a ban on “owning or trading securities, commodities, futures, derivatives, options, or other similar financial assets, including where such investments are traded through an investment vehicle that the covered person controls.”

Under such a ban, members and their families would be required to divest from prohibited investments, place them in a blind trust or diversify their investments by placing them in “widely held, diversified mutual or exchange-traded funds, or U.S. Treasury bills, notes, or bonds.”

“There is no shortage of bipartisan legislation ready to be voted on that model this established set of shared principles,” the lawmakers wrote.

Recent Posts

Feb 29, 2024
Economy & Jobs

Spanberger Statement on Vote to Prevent Government Shutdown, Protect Virginia’s Economy

WASHINGTON, D.C. — U.S. Representative Abigail Spanberger today released the following statement after voting with a bipartisan majority of the U.S. House to pass a short-term, stopgap funding measure — known as a “continuing resolution” — to avoid a shutdown that would damage Virginia’s economy. The legislation includes two staggered deadlines to keep the federal […]

Feb 29, 2024

During Black History Month, Spanberger Introduces Bill to Name Fredericksburg Post Office for Civil Rights Leader, Gladys P. Todd

Gladys P. Todd Was A Revered School Teacher, Voting Rights Advocate, & Community Organizer in Fredericksburg WASHINGTON, D.C. — U.S. Representative Abigail Spanberger today introduced legislation to rename a Fredericksburg post office after Gladys P. Todd, a prominent leader in the Fredericksburg civil rights movement. Located at 1285 Emancipation Highway in Fredericksburg, the post office […]

Feb 28, 2024

Spanberger Leads Virginia Lawmakers in Working to Protect $30 Internet Discount for Virginia Families, Fund Affordable Connectivity Program

The “Affordable Connectivity Program” Right Now Helps More than 455,000 Virginia Households Afford High-Speed Internet WASHINGTON, D.C. — U.S. Representative Abigail Spanberger today led members of the Virginia congressional delegation in a bipartisan effort urging the U.S. House Committee on Appropriations to extend funding for a key discount program that allows more Virginia families to […]