Rep. Gabe Vasquez Statement Against Insider Trading Loopholes for Members of Congress and the Republican Attack on American Citizens’ Right to Vote

WASHINGTON, D.C. - On July 22, 2026, U.S. Representative Gabe Vasquez (NM-02) released the following statement on H.R. 7008, a MAGA-led bill that would allow members of Congress to keep the stocks they own and continue to profit off of their positions of power. The bill - which received bipartisan opposition - aims to impose excessive and unworkable voter identification requirements just weeks before the 2026 general election, sowing chaos and exposing voters to privacy risks by requiring them to mail photocopies of their personally identifiable information (such as a driver's license or Social Security information) if they wish to exercise their right to vote by mail.

"I support banning members of Congress from trading all stocks and profiting off their positions of power, and I support commonsense voter ID requirements to keep our elections secure. Unfortunately, this MAGA-led bill, H.R. 7008, does neither," said Vasquez. "Under this bill, rich members of Congress are permitted to keep their existing stocks, buy new ones, and continue using their power to get richer through insider trading. I support the Restore Trust in Congress Act and the TRUST in Congress Act, comprehensive bills that truly tackle the corruption problem in D.C. rather than this partisan show-vote that does nothing to actually hold politicians accountable. "

The loopholes baked into H.R. 7008 allow members of Congress to continue to use their power to amass wealth. Under the bill:

• Members would be able to keep stocks they currently own.
• Members would be permitted to buy new privately traded stocks.
• Members could continue to profit off of financial vehicles like cryptocurrency.
• It also does not impose any anti-corruption restrictions on the executive branch.

New voting requirements and concerns under H.R. 7008 include:

• A new photo ID requirement for individuals voting in-person in federal elections, eroding voting rights for American citizens who do not have driver's licenses or passports, as well as those who rely on Tribal IDs that lack expiration dates and photos
• New privacy concerns, as Americans who want to exercise their right to vote by mail must now comply with one of three options: 1) mailing a photocopy of their driver's license or passport alongside their ballot, 2) mailing their Social Security information and a signed affidavit alongside their ballot, or 3) mailing a notarized attestation alongside their ballot - all of which impose new red tape and put personally-identifiable information at risk

"The Native American Rights Fund opposes imposing new voting requirements shortly before an election, especially while Native Americans nationwide still lack equal voter services. This bill is flawed in several ways, including its arbitrary requirement that Tribal IDs include expiration dates," said the Native American Rights Fund. "Obviously, Native American Tribal membership does not expire, so Tribal IDs often do not include expiration dates. Instead of creating new barriers for Native voters, we urge Congress to address the urgent need for basic voting services in Indian Country."

"Congress should pass a clean bill to ban insider trading-not use it as a vehicle to add a national voter ID mandate. These are separate issues that deserve separate votes. Tell your Representative to vote NO on this package and demand a clean insider trading bill," said Keaton Sunchild, Federal Director of Government and Political Relations of Western Native Voice.

Rep. Vasquez supports reasonable, nationwide standards for voter ID that don't sacrifice American rights and privacy, such as the Freedom to Vote Act. He is a cosponsor of the Restore Trust in Congress Act and the TRUST in Congress Act - two comprehensive, bipartisan bills to crack down on corruption and insider trading by D.C. politicians.

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