Pennsylvania Takes Lead in Action Against Congressional Stock Trading

Pennsylvania is taking a stand against Congressional insider trading, with U.S. Rep. Brian Fitzpatrick leading the charge. He, along with Republican Cory Mills and Democrats Alexandria Ocasio-Cortez and Raja Krishnamoorthi, is pushing for the Bipartisan Restoring Faith in Government Act to prohibit stock trading by members of Congress.

The bill aims to go beyond the STOCK Act of 2012, which some lawmakers have violated, and completely ban legislators, their spouses, and dependents from trading stocks. This legislation is crucial as it prevents the use of insider information for personal gain by members of Congress.

According to Mr. Fitzpatrick, there have been instances where elected officials have made hefty profits through practices that would be considered insider trading for the average American. The legislation has gained support from various lawmakers and even President Biden, who believes that changes need to be made in this area.

The push for reform in stock trading by members of Congress is part of an effort to address low levels of trust in Congress and the perception of insider trading. The goal is to align the actions of lawmakers with the expectations of the American people, who have expressed concerns about the financial interests of elected officials.

While refraining from stock trading is a step in the right direction, there are broader issues at play when it comes to the intersection of politics and finance. Lawmakers often transition to lucrative private sector roles post-public service, leveraging their insider knowledge and connections.

It’s clear that there is a growing call for transparency and accountability in how members of Congress handle their financial affairs. The Bipartisan Restoring Faith in Government Act represents a move towards restoring public trust in government institutions and reducing the influence of corporate money in politics. Through such measures, there is hope for a more ethical and accountable government that truly serves the interests of the people.