Indiana Republican Senator Todd Young is calling for the ban of stock trading for members of Congress.
While speaking on the Senate floor this week, Sen. Young said banning members of Congress from trading stocks has broad political support.
“There aren’t many issues like this, and in a divided America, this could unify America,” Sen. Young said.
According to Sen. Young, who took numbers from a University of Maryland study, the percentage of Republicans in favor of Congress members not being able to trade stocks is 87 percent. Democrats support the idea at an 88 percent rate.
“You go across the country, almost nine out of 10 Americans you talk to will say we should do it,” said Sen. Young.
That’s why Young is supporting two bills that address insider trading concerns and work to restore public trust.
Sen. Pete Ricketts, R-NE, has introduced the Stop Insider Trading Act. It would prohibit members of Congress, their spouses, and dependent children from purchasing publicly traded stocks. It also requires a seven-day public notice period before any stock sales.
The Restore Trust in Congress Act, which was introduced by Sen. Ashley Moody, R-FL, would ban the ownership and trading of individual stocks by members of Congress, their spouses, and dependent children to stop insider trading.
“Our Congress could be unified by exercising the will of the American people and banning members of Congress from trading stocks,” Sen. Young added on the Senate floor.
This week, Sen. Young also commended President Trump for his actions on quantum. The president recently signed an Executive Order to unleash American quantum technologies innovation.
“Great to see this leadership from POTUS and the Administration on quantum,” Sen. Young said in a social media post Monday. “I’ve introduced a bill to accelerate quantum technology development and real-world applications that are vital to U.S. economic and national security.”
That bill from the senator is the National Quantum Initiative Reauthorization Act. Sen. Young introduced the bill earlier this year, which reauthorizes and expands the National Quantum Initiative through December 2034 to maintain U.S. leadership in quantum science and technology, especially against competition from China.
3 comments
Why are you proposing this now? you’ve been in Congress for the last 5+ years, did only what Mitch wanted you to do, which was close to nothing. And an election is near so you come up with a possible bill at election time. LOSER!
Not only should there be a ban on such trades, there should be a mandate to return all the gains from insider trading for each Senator or Representative participating in this lawless act. It should also extend to several ever widening circles of family and friends. Both parties….EVERYONE!
Then we can talk about campaign financing. Not a single penny should be collected or spent that does not originate within the jurisdiction a Senator or Representative pretends to represent. If a guy like the piss ant Talerico gets the bulk of his money from Kalifornia money bags, who doe he really represent, Texas or Kalifornia. Voters should be very aware. At this time in history it is very easy to find out who is paying for the baggage. IF you state rep or senator gets a bag of cash form Indy, who do they represent? Watching how they vote answers this question.
IF you are not awake you should be by now.
The ban on insider trading must include the president & all in his administration!!!