Reps. Craig, Kean Introduce Bipartisan Legislation to Increase Transparency in Congress, Prevent Lawmakers from Profiting from Insider Information

WASHINGTON, DC – As part of her continued efforts to fight corruption and reform Washington, U.S. Representative Angie Craig joined Rep. Tom Kean, Jr. (R-NJ) in introducing the No Shorting America Act to restore transparency to Congress and prevent lawmakers from using insider information to short-sell American companies. 

Their bipartisan bill would prohibit Members of Congress and their families from profiting off the downfall of American companies, require Members of Congress to report stock investments to the supervising ethics office and prevent conflicts of interest by allowing the Attorney General to impose a fine of up to $50,000 if a Member is found short-selling American companies.

“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 Rep. Craig (MN-02). “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.” 

Since she came to Congress, Rep. Craig has led the charge to fight corruption and restore integrity to Washington, DC. 

She recently reintroduced her NO STOCK Resolution, which would require Members of Congress to immediately sell their individual stocks and refrain from future stock ownership while in office.

Earlier this month, Rep. Craig joined her colleagues in introducing the End Corruption Now legislative agenda, which aims to confront political corruption and clean up government by introducing six bills that will put power back in the hands of the American people. These bills will prevent the President, Executive Branch officials, and Members of Congress from personally benefiting from their offices.

As part of the End Corruption Now agenda, Rep. Craig reintroduced her Restoring Integrity to Democracy Resolution to ban Members of the House from serving on corporate boards while serving in office.

Earlier this Congress, she reintroduced her Halt Unchecked Member Benefits with Lobbying Elimination (HUMBLE) Act -- a broader package of reforms that would ban Members of Congress from owning or trading individual stocks, prohibit the use of taxpayer funds for first-class airline tickets, prevent Members from serving on corporate boards while they are in Congress, eliminate access to Members-only perks for former Members and eliminate automatic pay raises for Members of Congress. Rep. Craig first introduced the HUMBLE Act during her first term in Congress in 2019.

You can read Rep. Craig’s No Shorting America Act here.

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