CREW, 17 other groups tell Congress: Pass the ETHICS Act and ban Congressional stock trading

The Ending Trading and Holdings in Congressional Stocks (ETHICS) Act, a strong bipartisan ban on Congressional stock trading, should be advanced out of committee and passed by Congress, according to a letter sent by Citizens for Responsibility and Ethics in Washington, along with Project On Government Oversight, Campaign Legal Center, National Taxpayers Union and 14 other groups, to Senate Committee on Homeland Security and Government Affairs Chairman Senator Gary Peters and Ranking Member Senator Rand Paul. The ETHICS Act will be considered by the committee this Wednesday July 24th.

The ETHICS Act would effectively ban members of Congress and their spouses and dependents from owning or trading individual stocks, bonds or other similar financial investments. It also includes a clear enforcement mechanism with penalties that will deter members from potentially seeking to violate it.This legislation is crucial in the fight to ensure that elected officials are acting in the best interests of the people they serve, not personal profit.

America is currently facing a crisisof eroding trust in Congress and other government institutions, in part due to routine reportsof major conflicts of interest stemming from members of Congress owning stock in the companies they regulate. In order to stop these conflicts from continuing to erode public confidence in our democracy, it is time for Congress to answer the calls for reform.

An overwhelming majority of the American people have shown supportfor a ban on congressional stock trading and ownership. Passing the ETHICS Act is a step in the right direction to reassure the public that their voices are being heard and to restore faith in the integrity of our elected officials.