Demand Progress

Members of Congress who buy and sell stocks actually outperformed the stock market in 2023¹ — something even professional stock traders and Wall Street executives have trouble doing.

Some U.S. Representatives and Senators are making a lot of money using their positions of power to trade stocks in the industries they’re supposed to regulate. One of the worst examples was the group of Congress members that benefited from buying individual stocks in the pharmaceutical industry while millions of Americans died from COVID. Similarly unethical trading happens with stocks in weapons contractors, big tech companies, health insurance companies, and the list goes on.

It’s clear that members of Congress use their positions of power to profit off of stock trades. We cannot allow them to use their elected positions to grow their wealth while violating the public trust.

Sign the petition: Tell Congress to ban members of Congress from owning or trading individual stocks. Pass the ETHICS Act now!

Currently, members of Congress are supposed to disclose financial trades within 90 days. Yet in 2021, 54 members of Congress and at least 182 top staff members broke the law and failed to do so.²

Not only are U.S. Representatives and Senators hiding their transactions, they are profiting off of relief efforts, foreign aid packages, and war.

Over 75 policymakers bought and traded stocks in companies like Pfizer, Johnson & Johnson, and Moderna in the early weeks of the pandemic as they lobbied to pass $6 trillion worth of relief bills.³

15 lawmakers on committees that have influence on the U.S. military have investments in military contractors like Honeywell, Lockheed Martin, General Electric, Raytheon, and General Dynamics.⁴

Members of Congress will continue investing in these industries using non-public information — a clear ethical violation — unless we stop this practice now.

Add your name: Tell Congress to pass the ETHICS Act and ban Congress from trading or owning individual stocks.

Sources:

1. Yahoo Finance, “Members of Congress outperformed the S&P 500—sometimes by huge amounts,” January 3, 2024.
2. Business Insider, “'Conflicted Congress': Key findings from Insider's five-month investigation into federal lawmakers' personal finances,” December 17, 2021.
3. Business Insider, “As the pandemic raged, at least 75 lawmakers bought and sold stock in companies that make COVID-19 vaccines, treatments, and tests,” December 13, 2021.
4. Business Insider, “At least 15 lawmakers who shape US defense policy have investments in military contractors,” December 13, 2021.