A Florida Republican congresswoman is seeking to force members of the House of Representatives to go on record as to where they stand regarding banning stock trading by House lawmakers and their Senate counterparts.
Rep. Anna Paulina Luna, R-Fla., has been collecting signatures for a discharge petition to force a House floor vote on stock-trading legislation sponsored by Rep. Tim Burchett, R-Tenn.
“Members of Congress should be banned from trading individual stocks because their access to privileged, nonpublic information creates unavoidable conflicts of interest that erode public confidence in government,” Luna said in a statement shared with The Daily Signal.
“As lawmakers, we receive classified briefings, shape economic policies, and interact with industry leaders, giving us insights that can influence stock prices,” the Florida lawmaker explained, adding:
Even if no laws are broken, the appearance of profiting from this access fuels distrust among Americans. The American people do not trust the U.S. government, and this is a step forward to building that trust.
Burchett’s bill would prohibit a member of Congress, his or her spouse, or their dependent children from owning “an interest in or trade (except as a divestment) any stock, bond, commodity, future, or other form of security, including an interest in a hedge fund, a derivative, option, or other complex investment vehicle.”
