Rep. Crane-Backed Bill Restricting Congressional Stock Trading Passes House

This afternoon, the House of Representatives passed H.R. 7008, the Stop Insider Trading Act, which would restrict stock trading by Members of Congress, as well as their spouses and dependent children. Rep. Eli Crane (R-AZ) signed on as a cosponsor shortly after the bill's introduction and voted today in support of the legislation.

Throughout his tenure in office, Rep. Crane has opposed corruption and insider trading by politicians of both parties. He has refused to trade stocks and cosponsored several similar bills to bar the practice. Today's vote is consistent with his prior stances on congressional stock trading.

Under the bill, covered individuals cannot buy individual stocks or synthetic equivalents, such as options, warrants, and other derivatives, while in office.

"Our Founders envisioned a nation where citizen representatives served their constituents, not one where they used their positions to amass personal wealth. This legislation establishes solid guardrails to prevent lawmakers or their families from using insider information to enrich themselves," said Rep. Crane. "While I commend my colleagues in the House for passing this bill, it won't make a difference if our colleagues in the Senate don't make it a priority. I'm asking the American people to reach out to their senators and urge them to support this commonsense bill."