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Public Statements

Senate Democrats Urge Support For Legislation Barring Insider Trading By Members Of Congress

Press Release

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Date:
Location: Washington, DC

Today, U.S. Senators Kirsten Gillibrand (D-NY), Debbie Stabenow (D-MI), and Jon Tester (D-MT) urged support for the STOCK Act, which is set to receive a vote in the Senate this evening. The STOCK Act bars insider trading by members of Congress and their staff.

"We need to take this common sense step to begin restoring the trust that's been lost in our government," said Senator Gillibrand, the first member of Congress to post her official daily schedule, all earmark requests and personal financial disclosure online. "The American people need to know that their elected leaders play by the exact same rules that they play by. They also deserve the right to know their lawmakers' only interest is what's best for the country, not their own financial interests. Members of Congress, their families and staff shouldn't be able to gain personal profits from information they have access to that everyday middle class families don't. It's simply not right -- nobody should be above the rules."

"This law makes crystal clear that Members of Congress must not be exempt from laws everyone else has to follow," said Senator Stabenow. "Any Member of Congress abusing his or her position for personal financial gain must be held accountable. The Senate should overwhelmingly approve this bill this week, and the House should follow suit immediately."

"The STOCK Act brings much-needed accountability to Congress and should be an easy lift," said Senator Tester. "I don't care if you work on Wall Street or in Congress -- you should not be using privileged information to enrich yourself."

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