Today, in response to reports detailing executive and legislative branch elected and appointed officials abusing privileged information about COVID-19 to buy, sell, and improve their stock portfolios in 2020, Congressman Tom O’Halleran (AZ-01) released the following statement:
“This is about more than money made unethically during the height of a global pandemic; it is about a complete breakdown of trust between the federal government and the American people.
“Reports such as this only further emphasize why we needed to take a vote on a serious, meaningful stock trading bill before we adjourned at the end of September, something I called on Congressional leadership to do again and again.
“The House should have considered the TRUST in Congress Act, of which I am a cosponsor. The legislation has broad bipartisan support, and huge buy-in from the American people, who want lawmakers held accountable.
“This year, I re-introduced my package of ethics bills, including the Closing Loopholes, Ending Anonymous Revolving (CLEAR) Doors Act, new legislation that would require anyone who used to work for a federal agency to disclose any contact with their former agency employer within 48 hours. The CLEAR Doors Act would also expand the definition of a registered lobbyist to include any individual who engages on an open proceeding or rulemaking at their former agency, putting an end to the endless revolving door from Congress to the private sector and back.
“Too often, we’ve heard the stories about the revolving door, including former IRS and Treasury officials helping write regulations and then going to the private sector to lobby on those same regulations. This is completely unacceptable, and we must consider commonsense bills like my CLEAR Doors Act, to bring trust in government to the American people.
“Over the last several years, hardworking taxpayers have seen their earned dollars wasted at every echelon of their government and their needs cast aside in favor of political games and cable news coverage. Since coming to Congress in 2017, I’ve made ethics and accountability one my top priorities, and I won’t stop fighting until we get this done.”
Additional background:
O’Halleran is a co-sponsor of the TRUST in Congress Act and, in January, joined a letter calling on House leadership to quickly hold a vote on legislation to ban members of Congress from owning or trading stocks.
Original source can be found here.
