Carter votes to ban insider trading for lawmakers

WASHINGTON, D.C. - Rep. Earl L. "Buddy" Carter (R-GA) today voted in favor of the Stop Insider Trading Act.

Rep. Carter is an original co-sponsor of the legislation, which helps restore Americans' faith and trust in government by prohibiting Members of Congress, their spouses, and dependent children from purchasing publicly traded stocks and enacting much-needed federal voter ID laws to secure our elections.

"This bill helps ensure incoming Members of Congress are here to represent the people and serve the public, not their pocketbooks, and to safeguard the integrity of our election system," said Rep. Carter.

The Stop Insider Trading Act would:

• Ban Members, their spouses, and their dependent children from purchasing a security issued by a publicly traded company.

• Require Members of Congress to file a public notice at least 7 days, but no more than 14 days, in advance for each intended sale with the Clerk of the House of Representatives.

• Require the House Ethics Committee to (1) issue a fee equal to $2,000 or 10% of the value of the covered investment, whichever is greater, and the net gain realized from the sale, and (2) any net gain realized from the transaction during a specified period.

• Require voters to show a photo ID when casting a ballot in a federal election and require absentee and mail-in voters to attach a copy of their ID to their mail-in ballot.

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