By tracking progress and proposing solutions to overcome obstacles, the Brookings USMCA initiative aims to contribute to the success of the agreement, including during the joint review and extension of USMCA in 2026. Ending congressional stock trading would move accountability in the right direction and give the public a reason to have faith in government once again.Notably, implementation of the agreement will prove challenging. If good governance is truly what elected officials strive for, we should look no further than this legislation. His voice carries weight and, as he prepares to retire from the Senate, lending his voice to this effort is noteworthy.Ī ban on congressional stock trading isn't about party or identity politics - it's about doing what is right, fair and just for the people of Ohio. As a seasoned senator, his public support of a ban on congressional stock trading would be a significant step toward getting this legislation across the finish line. Rob Portman supported the STOCK Act, and he chose not to trade stocks to avoid even the appearance of foul play. However, Americans need to see a unified front for this legislation to come to fruition. Key members from delegations across the country are already on board with these efforts. With several similar proposals in the House and Senate, Congress has the opportunity to bring back good governance and regain the public's trust. Sherrod Brown introduced the Ban Conflicted Trading Act, which would ban current members of Congress and congressional staff from trading stock while in office. While the STOCK Act was signed in 2012 to prevent members of Congress from capitalizing on knowledge gained from their positions, it's clear that this legislation has been insufficient in preventing the actuality and the appearance of insider trading in Congress. The COVID-19 pandemic was the icing on the cake for suspicious trades these abuses of power should not go unchecked. Of late, there have been instances of elected officials appearing to take advantage of their positions of power. While there have been claims made that elected officials should be part of the "free market economy," it's not a free market when some traders - in this case, members of Congress - get inside knowledge on where the market or individual share prices might be headed and also make legislative decisions that impact the value of industries and companies that they invest. In recent years, a number of members of Congress and their families have been making substantial sums of money trading stocks, options and other assets. It is reported that 69 members of Congress and more than a hundred high-level congressional staff have violated the transparency requirements mandated by the STOCK Act - the law meant to prevent them from trading stocks based on nonpublic information. Frankly, the expectation is that individuals run for office because they want to do what is best for their constituents, not what is best for themselves.Īnd yet, an ongoing investigation from Insider tells a different story. We vote for individuals to represent us in elected office because we trust they will respect the power that their position holds.
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