06/17/2025 | Press release | Distributed by Public on 06/17/2025 14:51
Contact: Riley Pingree
(June 17, 2025) WASHINGTON, D.C. - Today, Representatives Tom Kean Jr. (NJ-07) and Angie Craig (MN-02) introduced the No Shorting America Act, a bipartisan bill that prohibits Members of Congress, their spouses, and dependents from engaging in short selling, the practice of profiting by betting that a stock or investment will lose value.
While legal, short selling by lawmakers or their families raises serious ethical concerns, especially when it involves profiting from the failure of American businesses. TheNo Shorting America Actwill restore public trust by ensuring that elected officials cannot bet against the American economy while entrusted with public power.
"Americans deserve to know that their elected leaders are working to strengthen the economy, not betting against it," said Congressman Kean. "The No Shorting America Actis a straightforward, bipartisan effort to restore integrity in public service by banning Members of Congress and their families from short selling. Betting against American companies while holding public office undermines the public's faith in our government institutions. This legislation helps rebuild that trust by ensuring Members remain focused on growing the economy and serving their constituents, not on personal financial gain."
"Too many Minnesotans don't trust that their representatives are working for them, and that's because for too long, Members of Congress have been able to use their positions for personal gain," said Congresswoman Craig. "Since I was elected to the House of Representatives, I've been working to clean up Washington and increase transparency in Congress. I'm proud to be introducing this bipartisan bill with Rep. Kean to hold Members of Congress accountable and ensure they aren't using insider information to play the stock market."
The No Shorting America Act would:
This bill aims to ensure public trust by preventing potential conflicts of interest where lawmakers could profit from betting against the U.S. economy.
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