Representative Anna Paulina Luna (R-FL) has introduced a discharge petition to bring legislation banning members of Congress from trading stocks to the House floor for a vote.
At the beginning of September, Rep. Luna introduced the End Congressional Stock Trading Act, which bans members of Congress and their families from owning, buying, or selling stocks and bonds, with the exceptions of diversified mutual funds, government retirement plans, U.S. Treasury securities, and small business holdings without conflict-of-interest risks.
Additional provisions include publicly available certifications and annual IRS audits, as well as tax neutrality, which ensures the bill provides divestment protections to prevent Members from incurring undue capital gains penalties when transitioning to compliant investments.
“Across the country, from every political background, the American people agree on one thing: Members of Congress should not be enriching themselves with insider knowledge,” Rep. Luna in a statement. “Both Republican Speaker Mike Johnson and Democratic Leader Hakeem Jeffries have acknowledged that insider trading in Congress is a serious problem and must be stopped. On this issue, the people are more united than Washington is.”
The Florida Congresswoman acknowledged that supporters and opponents of the bill can be found in both parties. Yet, average voters overwhelmingly support the bill, which only serves to demonstrate the bill’s necessity.
“Political games have already started to play out behind the scenes. I’m not waiting any longer. A discharge petition is the strongest tool we have to guarantee a vote on behalf of the American people, and it exists for moments exactly like this,” she commented.
“This is one of the most popular, most supported issues in the entire country. Americans deserve a Congress that works for them, not for special interests or personal portfolios,” Luna continued. “I look forward to working with every faction, every caucus, and every Member, Republican and Democrat, to finally get this over the finish line. This is about restoring trust in the institution and delivering a win for the American people. It’s time.”
