John,
After Donald Trump sent the stock market into decline with his tariffs a few weeks ago, he openly encouraged people to buy stocks while the prices were low, right before he lifted many of the tariffs.
As a result, many in Trump’s inner circle, including Rep. Marjorie Taylor Greene, bought dozens of stocks at the right time just to see their values soar. It’s called insider trading, and it should be stopped, but Democratic leaders are guilty of it, too.
Countless polls show that banning stock trading or ownership by government officials has widespread public approval, even across party lines. Over the past two Congressional sessions, Sludge found that many in office support a ban: more than 100 members of Congress on both sides of the aisle have co-sponsored bills to ban congressional and executive stock trading.
But party leaders who decide what bills get brought to a vote have stood in the way, including Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries.
As Sludge reports, “No bill limiting lawmakers’ stock trading has been granted a committee vote in the House, and no bill on the topic has been voted on by the full Senate. Congressional leaders like Chuck Schumer who are now voicing concerns over “insider trading” are the ones who have been sitting on bills that could have constrained insiders from making moves for profit.”
This is exactly why we need to clean house in the Democratic Party and elect more progressive, working-class champions who will prioritize people over profits by supporting an end to congressional stock trading.
In solidarity,
Justice Democrats