Rep. Gillen Statement on Congressional Stock Trading

WASHINGTON, DC - Congresswoman Laura Gillen (NY-04) released a statement following her opposition to H.R. 7008:

"I fully support banning Members of Congress from trading stocks. Since coming to Congress, I have never traded a single stock. Despite its misleading title, this bill does not actually ban members' stock trading outright and is riddled with loopholes that would still allow them to buy cryptocurrency, mutual funds and commodities. It leaves the door open for members to own and sell stocks in industries they directly regulate and use non-public information for personal gain.

"For too long, the status quo has allowed Members of Congress to continue trading stocks on the job, creating blatant conflicts of interest and allowing insider trading. Elected officials should never be allowed to leverage their positions to game the market and enrich themselves.

"To make this a blatant political stunt worse, House GOP leadership shamefully inserted extreme voter restrictions into this bill. Only American citizens should vote in American elections, as is the law. These restrictions would essentially create a tax on voting, burden voters with red tape and make it harder for millions of eligible Americans to access the ballot box."