Congressman Pat Harrigan Votes to Ban Congressional Stock Trading

Contact: Lexi Kranich (814) 380-4408

WASHINGTON, D.C.-Today, Congressman Pat Harrigan (NC-10), an original cosponsor of the Stop Insider Trading Act, voted in favor of H.R. 7008, legislation to prohibit Members of Congress, their spouses, and dependent children from purchasing individual stocks while serving in office and strengthen transparency requirements for stock sales.

"Congress shouldn't be playing the stock market while writing the laws, which is why I haven't touched individual stocks since coming to Congress and why Americans expect better from Washington," said Congressman Harrigan. "If we're asking the American people to trust us with the power to write the rules, they should never have to wonder whether those same rules are being used for personal financial gain."

The Stop Insider Trading Act prohibits Members of Congress, their spouses, and dependent children from purchasing individual stocks while in office, while continuing to allow diversified investment funds, blind trusts, and certain other exempt investments. The legislation also requires advance public disclosure before covered individuals sell individual stocks and establishes meaningful penalties for violations.

Congressman Harrigan has consistently supported stronger ethics standards in Congress and has not traded individual stocks since taking office. As an original cosponsor of the Stop Insider Trading Act, he believes restoring public trust requires holding Members of Congress to the same standard Americans expect from anyone entrusted with public office.