An Effort to Ban Congressional Stock Trading Now Gains Support from AOC

In a rare display of cross-aisle unity, a diverse group of U.S. representatives—from progressive Democrats to staunch MAGA Republicans—introduced groundbreaking legislation on Wednesday aimed at prohibiting stock trading by members of Congress and their immediate family members.

The bill, known as the Restore Trust in Congress Act, seeks to eliminate potential conflicts of interest and rebuild faith in the legislative branch amid growing public scrutiny over lawmakers’ financial dealings.

The initiative was formally unveiled by Democratic Representative Seth Magaziner of Rhode Island and conservative Republican Chip Roy of Texas, highlighting the bipartisan nature of the effort.

Supporters argue that the measure is essential to ensure that elected officials prioritize the interests of their constituents over personal financial gains.

Representative Alexandria Ocasio-Cortez (D-NY), a vocal advocate for progressive policies, delivered some of the most pointed remarks during the bill’s announcement.

She issued a stark warning to any would-be congressional candidates hesitant about divesting their stock holdings.

“If anyone says, ‘This isn’t fair. I’m going to have to divest all my stocks if I’m going to run for Congress,’ maybe you should stay home,” Ocasio-Cortez stated emphatically.

She described opposition to the ban as “outrageous,” rejecting the notion that it imposes an “undue burden” on lawmakers.

Ocasio-Cortez further emphasized the bill’s potential to address systemic inequalities in Congress, where millionaires are disproportionately represented.

“I feel that actually banning the trade of individual stock can help even the playing field,” she added, underscoring the need for greater working-class representation in the halls of power.

Voices from Across the Political Spectrum

The coalition’s diversity was on full display, with supporters spanning the ideological spectrum offering their own perspectives on the urgency of the reform.

MAGA-aligned Republican Representative Tim Burchett (R-TN) didn’t mince words about the current state of affairs.

“This body has been enriching itself on the taxpayer’s dime, and, dadgummit, it’s got to stop,” he declared, echoing frustrations over perceived self-dealing in Congress.

Progressive Democrat Pramila Jayapal (D-WA) focused on transparency and accountability.

She stressed the importance of ensuring that voters can trust their representatives’ decisions are free from personal financial influences.

Jayapal highlighted that lawmakers should be “taking votes on issues where they’re not thinking about their own stock portfolio.”

Republican Representative Brian Fitzpatrick (R-PA), known for his moderate stance, framed the issue as one with overwhelming public support.

“This is beyond an 80–20 issue,” Fitzpatrick said.

“This is a 95–5 issue, and the five that are against it are probably in this institution day trading.”

Bill Details and Potential Expansions

The Restore Trust in Congress Act specifically targets stock trading by members of Congress and their relatives, aiming to close loopholes that have allowed some lawmakers to profit from non-public information.

Proponents argue that such practices erode public confidence and create an uneven playing field.

When questioned about why the bill is currently limited to the legislative branch, lead sponsor Seth Magaziner indicated openness to broader application.

He suggested that a similar ban for the president and vice president could be pursued in the future, either through an amendment to the current bill or as standalone legislation.

“Many of us, I think in both parties, support including the president and vice president,” Magaziner explained.

“We are working to see if we can get a critical mass of support to include them or not.”

Public Demand for Ethical Reforms

This legislative push comes amid heightened awareness of congressional stock trading, fueled by investigations and reports revealing unusual trading patterns among some members.

Public opinion polls consistently show strong bipartisan support for such bans, with many Americans viewing them as a commonsense step toward ethical governance.

The involvement of high-profile figures like Ocasio-Cortez, alongside conservative voices, underscores the issue’s transcendence of partisan divides.

If passed, the Restore Trust in Congress Act could mark a significant shift in how lawmakers handle their personal finances, potentially inspiring similar reforms at state and local levels.

As the bill moves forward, it will face scrutiny from those who argue it goes too far or could deter qualified candidates.

However, supporters like Ocasio-Cortez remain steadfast, positioning the measure as a vital tool for democratizing Congress and ensuring it truly represents everyday Americans.

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