In a rare display of bipartisanship, Representatives Abigail Spanberger and Chip Roy have reintroduced a bill aimed at putting a stop to the unethical behavior of members of Congress using insider information to inform their investments.
The Spanberger-Roy Transparent Representation Upholding Service and Trust (TRUST) in Congress Act would require members of Congress, their spouses, and dependent children to place certain investment assets in a qualified blind trust throughout their tenure in Congress.
The bill aims to put a stop to the unscrupulous actions of members of Congress who use their positions to inform their investment decisions, or influence the value of their existing investments.
The TRUST in Congress Act would ensure that lawmakers are focused on serving the interests of the American people rather than their own financial interests.
This is an issue that is long overdue for a vote on legislation, according to Representative Spanberger. It’s time to ban members of Congress and their spouses from trading individual stocks. This bill would bring transparency and accountability to Congress and prevent members from using their positions to enrich themselves.
Even Nancy Pelosi would be required to comply with the TRUST in Congress Act if it became law.
The bill would require all members of Congress to place certain investment assets into a qualified blind trust throughout their tenure in Congress, effectively banning them from trading individual stocks.
This legislation has received endorsements from advocacy and government accountability organizations across the political spectrum, including the Project On Government Oversight, National Taxpayers Union, Citizens for Responsibility and Ethics in Washington, Public Citizen, Campaign Legal Center, Taxpayers for Common Sense, FreedomWorks, and Protect Democracy.
The reintroduction of the TRUST in Congress Act has garnered the most original cosponsors the bill has ever received on day one.
This bill is needed to ensure that our elected officials are focused on serving the interests of the American people rather than their own personal wealth.
