From Civic Action (https://www.civicaction.com/):
A groundbreaking Business Insider article just rated every member of Congress on their financial conflicts – and it shows that far too many benefit from insider trading.
In a functioning economy, the rules should apply to everyone equally. The nation’s wealthiest people should pay at least as much in taxes as their landscapers and personal chefs, CEOs shouldn’t be able to rake in millions of dollars from stock buybacks while their workers’ wages stay flat, and Congress members shouldn’t be able to run away with millions from insider information while their constituents’ 401ks collapse days later.
Everyone in our economy benefits when we have a level playing field. That’s why Civic Action is joining organizations across the country in their efforts to ban members of Congress from owning or trading individual stocks: Will you sign on now at https://actionnetwork.org/forms/sign-the-petition-members-of-congress-should-not-own-or-trade-individual-stock to join the fight?
While pre-existing legislation like the STOCK Act is supposed to stop Congress members from using their knowledge as elected officials to profit off of the stock market, these regulations just aren’t strong enough. Here’s one recent example: In the very early days of the pandemic, a group of senators was accused of insider trading when they left a COVID-19 briefing meeting and sold their stocks before the economic crash – while the general public was still unaware about what impact the virus would have on our economy.
Right now, the system is rigged in favor of a small group of wealthy and powerful people, and we need stronger regulations to level the playing field because our economy is strongest when it’s most inclusive. That’s why three in four voters agree that Congress members should be banned from trading stocks – but we need to push even harder to get this policy past the finish line.
If you agree with our vision to build a stronger, more inclusive economy, we need you to join the fight now: Add your name to call for a ban on Congress members owning or trading individual stocks!
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