STOP CONGRESS FROM TRADING STOCKS
Corruption, and even the appearance of corruption, corrodes democracy.
QUICK READ: “Lawmakers are the ones putting policies on the books that impact the market—we should not be able to buy and sell stock while in office. It's past time we banned this blatant conflict of interest, and I'm working to get it done in the Senate,” says Oregon’s Sen. Jeff Merkley who has introduced the Ban Conflicted Trading Act.
TAKE ACTION NOW:
BACKGROUND
Trust is essential to a democracy. But four in five Americans do not trust Washington to do what’s right.
Sometimes that’s because a clear conflict between public duty and private profit is apparent. Sen. Joe Manchin (D-WV) became rich by classifying “waste coal,” a source of his family’s wealth, as an “alternative energy” source.
Less obvious but more pervasive is the practice of lawmakers trading individual stocks, even as they write laws impacting those industries.
Members of Congress bought and sold $355 million in stocks last year.
“(It’s) pretty dangerous to democracy,” said US Representative Abigail Spanberger (D-VA), one of the authors of the TRUST in Congress Act.
Over 75% of voters believe lawmakers and their spouses have an “unfair advantage” in the stock market.
Calls late last year to ban trades of individual stocks were rejected by Speaker Nancy Pelosi who has a $100 million-plus stock portfolio.
Despite reluctance from Democratic leadership in both Houses, momentum is building, even among MAGA Republicans.
Senate passage will likely be harder, where 61 members are millionaires, including four worth more than $100 million.
With democracy under assault, eliminating this practice will help rebuild the public’s confidence in government.
ACTION One: Call the Senate.
Script for Oregon Senators
SEN. MERKLEY: Portland office: 503-326-3386 | D.C. office: 202-224-3753
My name is [--] and I'm a constituent from [city], Oregon [zip code].
Thank you for moving to ban stock trading by Members of Congress. The current practice taints everyone in Congress with the appearance of a conflict and corrodes democracy.
SEN. WYDEN:
Portland office: 503-326-7525 | D.C. office: 202-224-5244
My name is [–] and I’m a constituent from [city], Oregon [zip code].
Thank you for your support of a ban on trading individual stocks by Members of Congress. The current practice taints everyone in Congress with the appearance of a conflict and corrodes democracy.
Script for Republican Senators
D.C switchboard: 202-224-3121
My name is [–] and I’m a constituent from [city], [state], [zip code].
Please support a ban on trading individual stocks by Senators. The current practices taints everyone with the appearance of a conflict and corrodes democracy.
ACTION TWO: Call the House.
Script for Suzanne Bonamici (OR-01)
Oregon office: 503-469-6010 | DC office: 202-225-0855
My name is [–] and I’m a constituent from [city], Oregon [zip code].
Thank you for your support of a ban on trading individual stocks by Members of Congress. The current practice taints everyone with the appearance of a conflict and corrodes democracy.
Script for Cliff Bentz (OR-02)
Medford office: 541-776-4646 | DC office: 202-225-6730
My name is [–] and I’m a constituent from [city], Oregon [zip code].
Please support a ban on trading individual stocks by Members of Congress. The current practice taints everyone with the appearance of a conflict and corrodes democracy.
Script for Earl Blumenauer (OR-03)
Oregon office: 503-231-2300 | DC office: 202-225-4811
My name is [–] and I’m a constituent from [city], Oregon [zip code].
Thank you for your support of a ban on trading individual stocks by Members of Congress. The current practice taints everyone with the appearance of a conflict and corrodes democracy.
Script for Peter DeFazio (OR-04)
Eugene office: 541-465-6732 | DC office: 202-225-6416
My name is [–] and I’m a constituent from [city], Oregon [zip code].
Thank you for your support of a ban on trading individual stocks by Members of Congress. The current practice taints everyone with the appearance of a conflict and corrodes democracy.
Script for Kurt Schrader (OR-05)
Salem office: 503-588-9100 | DC office: 202-225-5711
My name is [–] and I’m a constituent from [city], Oregon [zip code].
Thank you for your support of a ban on trading individual stocks by Members of Congress. The current practice taints everyone with the appearance of a conflict and corrodes democracy.
ACTION 3: “GOOD TROUBLE”
Below are opportunities to fight for our democracy. As John Lewis said, make some “good trouble.”
Join Indivisible Oregon.
Join the fight to reform the Supreme Court by volunteering with Demand Justice,
Learn about persuasive language and communication research at the Zoom ASO Movement Briefings every second Wednesday.
Join the campaign to hold the House and Senate at GiveNoGround.org
Work to protect democracy in the House by replacing retiring US Representative Peter DeFazio with another Democrat, replacing Democrat Kurt Schrader, the “Manchin of the House,” with a progressive, and electing a Democrat in Oregon’s new Congressional District 6.
Demand your primary news source stop creating false equivalencies and just report the truth.
Check out the Poor People's Campaign Readies 'Massive, Nonviolent' Effort to Save Democracy
Outside of Portland? Check out COIN Oregon.
Center for Common Ground is starting new Reclaim Our Vote campaigns: TEXAS Primary is First! Writing to 730,000 Black registered voters in Texas, urging them to vote in the upcoming March 1st Primary. Only 1 in 25 Texas voters participate in primaries. Postcards For Texas with Center for Common Ground. And phone banks!
Rally inconsisent Democratic voters to vote in 2022 with Progressive Turnout Project | Feb, 2022 | Medium
Fridays at 4 - Letter and Postcard Writing — Indivisible Oregon.
FURTHER READING:
Why Are Members of Congress Allowed to Trade Stocks? - The Atlantic
Democratic Leaders in Senate Pushing Congressional Stock-Trade Ban
How Manchin used politics to protect his family coal company - POLITICO
55 Members of Congress Caught Violating Law on Stock Trades in 2021
'Too many members of the Senate trade in stocks,' Senate Banking Committee chair says
Pelosi backs ban on stock trading in Congress | TheHill
Nancy Pelosi's husband could make big money off Alphabet stock's big day
Dan Crenshaw’s stock trading yielded the fifth highest return in Congress - Texas Signal
When It Comes to Investing, Some in Congress Have Oddly Good Timing - The New York Times
