U.S. Rep Chris Pappas

WASHINGTON – As the 118th Congress begins, Congressman Chris Pappas (NH-01) is urging House Democratic and Republican leadership to include a ban on trading stocks by members of Congress in the upcoming rules package. A House rules change can apply to Members of the House immediately, which will give Congress time to pass a permanent law that applies to both the House and the Senate.

In his letter to Speaker Designate Kevin McCarthy and Democratic Leader Hakeem Jefferies, Pappas wrote: “Those who have been elected to serve have the utmost responsibility to live for the public rather than off the public and to never abuse their trust or office to seek personal gain. Unfortunately, we know that this is not the case for far too many in Washington: 78 members of Congress have been found to have violated the STOCK Act, our existing law to stop insider trading and prevent conflicts of interest among legislators.”

Pappas continued: “Both of you have previously expressed support for limiting or barring lawmakers from holding or trading stocks and equities. This is not a partisan issue, and as you know, there is no shortage of bipartisan legislation ready to be voted on.”

Pappas concluded his letter: “I respectfully urge you to include a provision in the rules package that addresses this critical issue. I stand ready to work with you on a bipartisan proposal as it moves through the rules process.”

In 2021, Pappas broke with Democratic House leadership to support the stock trading ban. After his advocacy, Democratic leadership reversed course and announced legislation to ban stock trading by members of Congress that would be considered by the House. Unfortunately, that legislation was not brought to the floor – a move Pappas strongly criticized. Pappas has remained committed to calling for a vote and pushing House leadership to heed the bipartisan calls for taking action on this issue.

Pappas is a co-sponsor of H.R. 336, the Transparent Representation Upholding Service and Trust in Congress (TRUST) Act, as well as H.R.1579, the Ban Conflicted Trading Act, two bipartisan bills meant to prevent members of Congress from abusing their positions and profiting from public service. He intends to help introduce similar legislation and continue leading on this issue in the 118th Congress.