Representative Angie Craig Set to Introduce Legislation Banning Members of Congress from Owning or Trading Individual Stocks

WASHINGTON, DC — This week, U.S. Representative Angie Craig (D-MN) is set to introduce legislation banning Members of Congress from owning or trading stocks while serving in public office. In recent years, the United States Congress has been plagued by allegations of insider trading – necessitating urgent action to restore Americans' faith in their elected leaders and remove even the appearance of misconduct. Craig's bill will require all Members to sell individual stocks and refrain from future ownership of individual stocks throughout their time in office.

"The appearance that Members of Congress are benefiting financially from their positions as elected representatives simply isn't sustainable in our democracy. The American people should know that their elected representatives are spending their time in Washington fighting for their constituents – not their own bottom lines," said Representative Craig. "That's why I have decided to introduce stand-alone legislation to ban sitting Members of Congress from owning or trading individual stocks. My bill would eliminate even the appearance of wrongdoing and remove any temptation that lawmakers might have to profit off of their positions – while helping to restore Americans' faith in their elected leaders."

Since entering Congress, Representative Craig has prioritized legislation aimed at addressing even the appearance of corruption and impropriety in Washington. Last year, Craig introduced the Halt Unchecked Member Benefits with Lobbying Elimination (HUMBLE) Act, which would impose a lifetime ban on Members of Congress working as registered lobbyists after their time in office and ban individual stock ownership among other reforms. In 2019, she also introduced an amendment to the annual spending bill blocking House Democrats from enacting a pay raise for Members of Congress. Craig also introduced and enacted into law the Payment Integrity Information Act, which helps to address improper and wasteful payments that totaled more than $150 million in 2018 alone.

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