"Existing ethics laws do not go far enough to prevent members of Congress from using the information they have access to for personal gain. No more excuses. No more delays. It's time for action."Advocacy groups on Thursday renewed calls for Congress to ban members and their families from trading stock amid reporting that Democratic leaders in the U.S. House—despite intense public pressure—are unlikely to bring a vote on the issue before the November midterm election.
"Congress passed the Stop Trading on Congressional Knowledge Act into law 10 years ago," he noted,"but the STOCK Act did not decrease the appearance of corruption that arises when members of Congress engage in suspicious stock trades.
"In fact, it resulted in a dramatic reduction of stock trading activity by members of Congress," Gilbert continued."But it is time to take the next step and ban stock trading activity altogether by members of Congress and their spouses."Combatting Financial Conflicts of Interest in Government Act However, CLC, Public Citizen, other organizations, and the vast majority of Americans want lawmakers to act on the issue.
As Potter also pointed out,"Public polling confirms that most Americans support banning lawmakers from trading stocks, and it is therefore crucial that the House passes this legislation."from Stand Up America and Data for Progress, conducted within the past week, shows that 77% of all U.S. voters—including 80% of Democrats and 75% of both Independents and Republicans—somewhat or strongly support a congressional stock trading ban.
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