Pappas Statement on Leadership's Failure to Call a Vote on Legislation to Ban Insider Trading
Press Release
Today, Congressman Chris Pappas (NH-01) released the following statement after the House failed to call a long-promised vote on legislation to ban stock trading by members of Congress:
"I'm disappointed that after repeatedly promising legislation would be brought to the floor that would ban stock trading by members of Congress, leadership has failed to call a vote. There are multiple bills that have generated significant bipartisan support that would impose common sense reforms, including bills I've helped introduce," said Congressman Pappas. "The endless delays in this process are completely unnecessary, and I'll continue to call for action on this issue until we have passed legislation that will prevent elected officials from using their position of public service for personal gain."
Pappas broke with Democratic House leadership in support of the stock trading ban in 2021, and after his advocacy, leadership reversed course and announced legislation to ban stock trading by members of Congress would be considered by the House. He supports and has helped lead several pieces of legislation to make these needed reforms, and has repeatedly joined with his colleagues from across the aisle to call for them to be brought to the floor for 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, and H.R.8106, the Fighting Foreign Influence Act, which would curb foreign influence and close the revolving door of former members of Congress and senior government officials who lobby on behalf of foreign governments, in many cases with adversarial relationships with the United States, when their public service ends.
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