Congressman Pat Harrigan Leads Letter Defending Free Markets and the Freedom to Invest

Contact: Lexi Kranich (814) 380-4408

WASHINGTON, D.C.-Congressman Pat Harrigan (NC-10) led a letter, co-signed by nine Republican Members of Congress, calling on House leadership to defend free market principles and protect the freedom to invest from increasing political interference in private markets.

"Republicans have always been the party of free markets and limited government, and this letter is about holding that line," said Congressman Harrigan. "When government starts telling investors what risks they can and cannot consider, it does not protect the market, it distorts it. We have already seen how state laws restricting investment decisions cost hundreds of millions in lost economic activity. If Washington continues down this road, the costs fall on American families, workers, and retirees whose savings are caught in the middle. This letter puts House leadership on notice that we are not going to let creeping government interference hollow out the principles that made this economy the envy of the world."

The letter comes amid growing concern that federal and state policies are increasingly influencing private investment decisions, including efforts to limit how financial firms assess risk and attempts to direct capital allocation through regulatory pressure. Lawmakers note that U.S. markets have historically thrived when investment decisions are driven by private entities, not government mandates, and that preserving free market principles is critical to maintaining U.S. economic competitiveness, protecting jobs, and ensuring long-term prosperity.

Co-signers of the letter include Reps. Nick LaLota, Michael Lawler, Don Bacon, Juan Ciscomani, Gabe Evans, Robert Bresnahan, Jennifer Kiggans, Dan Newhouse, and Ryan Mackenzie, who offered the following:

"It is simple, government should get out of influencing people's investment decisions and forcing their values on others. Republicans don't like it when Democrats do it, and Democrats don't like it when Republicans do it. Let's leave investing to the conscience of private citizens," said Congressman Don Bacon (NE-02).

"Now is an important moment to address the proper balance between government involvement and private investment decisions. These issues go to the heart of investor independence and long-standing free market principles. We are reaffirming our commitment to those principles and ensuring they remain central to America's economic strength," said Congressman Nick LaLota (NY-01).

"America's economic strength relies on a stable, competitive free market where businesses and investors have the flexibility to respond to changing market conditions. Unpredictable policies can create uncertainty, directly affecting businesses, workers, and long-term growth," said Congressman Juan Ciscomani (AZ-06).

"At the heart of American innovation and prosperity is the freedom of our citizens to invest. History shows us that efforts to bend investors to the will of government results in economic stagnation and an excessive concentration of state power. Congress should embrace the principle that safeguarding personal freedoms also means protecting financial freedoms and free market ideals by not allowing politicians to pick winners and losers," said Congressman Ryan Mackenzie (PA-07).

"America's economy is strongest when investment decisions are made by investors-not by politicians or bureaucrats. The freedom to invest is a cornerstone of our free-market system, and government should not be imposing political agendas on private capital. I am proud to join this effort to defend investor independence, protect economic growth, and ensure Americans can continue making financial decisions based on what's best for their families, businesses, and communities," said Congressman Gabe Evans (CO-08).

The letter also earned support from faith-based investors and financial industry leaders:

"As faith-based investors, we have a fiduciary responsibility to invest our resources in keeping with our values. The freedom to invest is critical and fundamentally tied to our freedom of religion and our ability to express that freedom in the marketplace," said Sister Susan Francois, Assistant Congregation Leader and Treasurer for the Sisters of St. Joseph of Peace.

"The freedom to invest is a cornerstone of our free-market capitalist system. When government gets involved, it often creates unintended consequences. For example, if weather cannot be a factor for risk, it makes it incredibly hard for an investor to price an insurance company properly. That is why the best government for investors is a limited government, which allows the freedom to invest," said Alex Chapman, President of Ridge Creek Global.

"As a faith-based investor, we view our investments not just as vehicles for financial returns but as an expression of our faith. We must be able to continue to invest freely and responsibly for the sake of our economy, beneficiaries, and religious freedom. We urge Congress to protect that right," said Katie Carter, Director of Faith-Based Investing and Shareholder Engagement, Presbyterian Life & Witness.

"Investors must be able to evaluate material risks and opportunities and exercise independent judgment on behalf of their clients. Sage strongly supports efforts that safeguard this responsibility," said Andrew Poreda, Vice President and Senior Research Analyst, Sage Advisory.

Congressman Harrigan will continue fighting to ensure Washington keeps its hands off private markets and that American investors, workers, and families are not paying the price for government overreach.