Barrett Helps Pass Congressional Stock Trading Ban, Voter ID Requirement

Washington, D.C. - Today, Congressman Tom Barrett (MI-07) and the U.S. House of Representatives passed the Stop Insider Trading Act (H.R. 7008), which would prohibit members of Congress and their family members from trading individual stocks. The bill, which earned bipartisan support, would also implement voter ID requirements for federal elections.

Click here or above to watch the congressman's statement.

Barrett helped introduce the Stop Insider Trading Act in January as part of his Blueprint for a Better America: Restoring Trust in Government. Both provisions of the Stop Insider Trading Act have overwhelming support, with 84% of Americans in favor of the voter ID requirements and 86% of Americans in favor of banning individual stock trading by members of Congress.

Specifically, the Stop Insider Trading Act will prevent conflicts of interest by:

• Banning each member of Congress, his or her spouse, and his or her dependent children from purchasing publicly traded stocks;
• Requiring members to file a public notice at least seven days, but no more than 14 days, in advance of each intended sale of stocks they already own; and
• Requiring the House and Senate Ethics Committees to penalize members who break the law with a fee equal to $2,000 or 10% of the value of the stock, whichever is greater, as well as any net gain realized from the sale.

The bill will also strengthen election security in federal elections by:

• Requiring all voters to present photo identification when voting at the polls; a voter who forgot to bring ID to the polling place could cast a provisional ballot, which would be counted if a voter presents ID within three days;
• Requiring all absentee voters to submit a copy of their photo ID, the last four digits of their Social Security number, or a notarized attestation that the ballot was cast by the specific voter; and
• Allowing access to printers at government offices so absentee voters can copy their photo ID free of charge.

The Stop Insider Trading Act now advances to the Senate for consideration.

About Barrett's Blueprint for a Better America:

• Restoring Trust in Government: Making Government Serve the People, Not Special Interests
• Reviving the American Dream: Helping Families Afford Homes in Mid-Michigan
• Making Health Care Affordable Again: Lowering Costs for Working Families
• Recalibrating American Foreign Policy: Ending Endless Wars and Promoting Peace Through Strength
• Reforming Campaign Finance: Putting Governing Before Campaigning
• Making America Healthy Again: Prioritizing Public Health Over Corporate Profits

Click here or visit barrett.house.gov/reform to learn more.