ECU Urges Democrats to Reject Republicans’ Sham Stock Trading Bill

ECU: Republicans' Stop Insider Trading Act Is a Fraud, Not a Fix

End Citizens United (ECU) Action Fund President Tiffany Muller released the following statement ahead of today’s expected House vote on the Stop Insider Trading Act (SITA):

“The Stop Insider Trading Act is a total sham. Republicans have been purposefully misleading the public by referring to this measure as a “stock trade ban,” but it will hardly change anything about the culture of corruption in Washington. The reality is this bill is a cynical attempt to deceive the public into believing Republicans in Congress have solved the problem of congressional stock trading, while continuing to allow members to profit from their positions of power.

“The bill doesn't ban stock sales. It would not have stopped the lawmaker who dumped millions in assets the week before COVID-19 closures began. It would not stop lawmakers from buying oil futures ahead of a military invasion — like those who traded energy stocks before the U.S.-backed intervention in Venezuela. This bill does nothing to address commodity trading, meaning lawmakers can keep cashing in on the very policy decisions they are making. Simply put, this is not the stock trade ban Americans are calling for. It's a blatant attempt to pretend to address corruption while putting lawmakers' profits over the public good.

“The House could pass a real stock trade ban — the Restore Trust in Government Act — but instead Republicans are rushing this sham bill through before summer recess. We urge Democrats to vote no. If Republicans want to take actual steps to end corruption, they should bring the Restore Trust in Government Act to the floor.”

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For 10 Years, End Citizens United (ECU) has been dedicated to combating the two biggest challenges facing our democracy: the corrosive impact of Big Money in politics and attempts to block access to the ballot box. Since its founding in 2015, ECU has had over 1.4 million donors with an average donation of just $14. The group has more than four million members nationwide and is one of the nation’s leading anti-corruption organizations.