John,
Did you know that members of Congress can use their position to influence the stock market, and then make trades based on that influence? A 2022 New York Times report found that 97 members of Congress reported making stock trades in companies influenced by their committees.
Yep, you read that right: many members of Congress have the power to leverage their position as lawmakers to gain an unfair advantage in the stock market, and penalties against insider trading are rarely enforced.
Whether it’s former Congressman Santos or Senator Manendez, politicians from across the political spectrum are profiting off of our broken political system. It’s a bipartisan problem in need of a nonpartisan solution. But with Congress refusing to take action on systemic corruption, the solution has to start with us.
Here are two things you can do:
RepresentUS has a proven plan, and we’re fighting back. We’re actively pushing for the passage of the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act to ban members of Congress and their families from trading securities, while also collaborating with partners on the ground to enhance campaign finance laws and impose strict limits on special interest group funding nationwide. We’re also continuing to fight for common-sense reforms—including our recent victory banning foreign campaign spending in Maine elections.
This problem is so much bigger than any one politician. And what we’re able to raise this month determines how hard we can fight to fix our broken system in 2024.
It's up to all of us to get politicians working for the people and not for monetary gain—and with your help, we will.
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Megan Caska Senior Political Director RepresentUs
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