Jayapal Statement on Republican Stock Trading Sham

WASHINGTON, D.C. - U.S. Representative Pramila Jayapal (WA-07) released the following statement before voting against the Republican-led Stop Insider Trading Act, which they purport to be a stock trading ban but would allow Members to continue owning and trading individual stocks.

"Today, Republicans are bringing forward a so-called stock trading ban that literally does nothing of the sort. It lets Members of Congress hold onto existing stocks and act on legislative matters that directly increase the value of those stocks. The bill also allows Members to sell stocks with advanced notice, letting them avoid massive losses based on insider information. Finally, the bill allows Members to purchase private stocks, commodities, and industry-specific funds without any restrictions.

"Republicans know that the American people want a stock trading ban on Congress. Today's bill, however, is a sham. There are real bipartisan solutions to end stock trading, like the Restore Trust in Congress Act. Putting forward a partisan, watered-down proposal like this bill is a slap in the face to the American people who are struggling to get by as their elected officials are raking in money from insider trading. I'm a NO."

Issues: Government Reform & Ethics