Moolenaar Supports Congressional Stock Trading Ban

Today, Congressman John Moolenaar cosponsored the Stop Insider Trading Act. This legislation was introduced today and would prohibit Members of Congress and their immediate families from purchasing stocks.

"Members of Congress are entrusted by the American people to represent them faithfully in Washington D.C. and should not use their position to enrich themselves off of insider information. It would be a betrayal of the public to do so otherwise," said Moolenaar. "This is commonsense legislation and I urge its immediate passage."

Specifically, the bill would prohibit Members of Congress, their spouses, and their dependent children from purchasing financial securities in publicly traded companies while in office. It would also require public disclosure of a stock sale at least seven days in advance of the sale, and impose fines on violators.

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