Today, Congressman Mike Michaud praised final Senate passage of the "Stop Trading on Congressional Knowledge Act" (STOCK Act), which would prohibit members of Congress and their staff from profiting from the nonpublic information they gain from their official positions. Michaud cosponsored the House-version of the STOCK Act (H.R.1148). Senate action today clears the bill for the President's signature.
"This bill represents the least Congress should be doing in this area," said Michaud. "The idea that a member of Congress could legally profit off information that is not available to the public is offensive. While I wish the final bill held the political intelligence industry more accountable, passage of this measure is a step in the right direction."