WASHINGTON, Jan. 31 -
Madam Speaker, the STOCK Act will prohibit Members of Congress and Federal employees from using nonpublic information for their own personal profit and help prevent insider trading.
Representative Timothy Walz of Minnesota has introduced this legislation in the House. The Senate has already voted to move forward on the STOCK Act.
I join a bipartisan group of 217 Members in supporting this legislation. Several media reports have indicated that insider trading is a problem in the Halls of Congress.
Madam Speaker, we work for the American people and cannot lose their trust. The STOCK Act or similar legislation is needed because it brings more transparency and oversight.
Insider trading, any way you look at it, is not only illegal in the United States, but it is corrupt and morally wrong. In Washington and in Congress, things must not only be right; they must look right.
And that's just the way it is.