In order for our government to function, voters need to trust that lawmakers have their best interests at heart. Unfortunately, may people feel the trust just isn’t there.
One major reason why is that we continue to allow members of Congress to trade stocks while in office – with little oversight and accountability.
Last month, a group of senators led by Oregon Sen. Jeff Merkley introduced the Ending Trading and Holdings in Congressional Stocks Act. The bill prohibits members, spouses and dependent minors from owning or trading securities, commodities or futures. This doesn’t mean members have to abandon their fiscal well-being. They can still exchange their stocks in individual companies for mutual funds, or place their assets into a qualified blind trust.
A stock trading ban has overwhelming bipartisan support among the public. Passing it is a no-brainer and would be a first step in rebuilding trust. Recent polling shows that 70% of voters across the political spectrum support banning members of Congress from holding individual stocks. And now those same Americans, including conservatives, moderates and progressives, are rallying behind the ETHICS Act.
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It’s time for our elected officials to follow suit and end this conflict of interest. Sens. Tammy Baldwin and Ron Johnson, and Rep. Derrick Van Orden should support the Ending Trading and Holdings in Congressional Stocks Act.
Lewis Kuhlman
La Crosse
