Vote Explainer: H.R. 7008, the Stop Insider Trading Act

WASHINGTON, D.C. - Congressman Seth Moulton issued the following statement regarding his No vote on H.R. 7008, the Stop Insider Trading Act.

"Today, I voted No on the Stop Insider Trading Act. Republicans call this a stock trading ban, but it's really a sham piece of legislation full of loopholes for politicians and the President to take advantage of.

"Americans deserve real accountability from their politicians. That's why I have cosponsored both the Restore Trust in Government Act and Restore Trust in Congress Act to ban stock trading for Members of Congress, the President, Vice President, and the Cabinet with zero exceptions.

"The Stop Insider Trading Act is not a stock trading ban; it's actually a voter suppression bill in disguise. This Republican legislation allows Members to profit off their positions and makes it easier for them to hide their inside trading. It also includes some of the most extreme provisions from the SAVE Act and would functionally end vote-by-mail as Americans know it.

"This bill does nothing to rein in the corruption that starts at the highest level of our government, in the White House, leaving a carve-out for Donald Trump and his family to keep profiting off of the presidency. If you think he won't take advantage of this, you would be wrong. In his first year back in office, President Trump traded more securities than all 535 Members of Congress combined.

"If Republicans were actually serious about voting on a real stock trading ban, they would support legislation like the Restore Trust in Government Act and the Restore Trust in Congress Act. Unfortunately, Speaker Johnson continues to refuse to bring it to the floor for a vote.

"Democrats will continue working to pass a real stock trading ban - one that doesn't involve any anti-democratic voter suppression provisions."

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