Congressman Chris Pappas (NH-01) reiterated his call for House leadership today to take up and pass a ban on stock trading by members of Congress and their families as soon as possible.
Following Pappas's advocacy, House leadership reversed course this week and announced legislation to ban stock trading by members of Congress would be considered by the House. Pappas broke with Democratic House leadership in support of the stock trading ban in 2021 and supports several pieces of legislation to make these needed reforms.
"Those in Congress have an obligation to never abuse their position or seek personal gain from their service, but too often members' activities cross a line," said Congressman Pappas. "Members of Congress and their family should not be trading stocks or using inside information for profit. That is wrong, and it must end. That is why I support passing legislation that puts an end to trading and profiting from the stock market by members of Congress and ensures public service doesn't become self-service. There is no shortage of bipartisan legislation ready to be voted on, including bills that I am co-sponsoring. There should be no reason for Speaker Pelosi to delay this process, and I urge House leadership to bring these bills to the floor and call a vote."
Pappas is a co-sponsor of H.R. 336, the Transparent Representation Upholding Service and Trust in Congress (TRUST) Act. This bill requires a Member of Congress, as well as any spouse or dependent child of a Member, to place specified investments into a qualified blind trust until 180 days after the end of their tenure as a Member of Congress.
Pappas has also co-sponsored H.R.1579, the Ban Conflicted Trading Act, which would prohibit members of Congress from certain financial activities while holding office, including purchasing or selling specified investments and entering into a transaction that creates a net short position in a security
Original source can be found here.
