On Tuesday, Rep. Matt Gaetz (R-FL) along with Rep. Alexandria Ocasio-Cortez (D-NY) introduced legislation that would block members of Congress, as well as their close family members from stock trading.
In an interview with Fox News, Gaetz spoke about Ocasio-Cortez noting that while many of the things she believes are incorrect she is “not corrupt.” He added that he was willing to cooperate with anyone whose focus was on ensuring that Congress “is not so compromised.” He proceeded to state that if asked he was sure that Ocasio-Cortez would say the same thing about him.
The legislation is also supported by Reps. Brian Fitzpatrick (R-PA) and Raja Krishnamoorthi (D-IL), are also heading the efforts to block Congress members, their spouses, and their dependents from being allowed to trade stock.
In her own statement on Tuesday, Ocasio-Cortez stated that trading was harming the public’s trust in the government and that members who are able to access classified information should not be allowed to trade stock using it.
The Bipartisan Restoring Faith in Government Act is the latest attempt being made to stop Congress members from trading. In recent years this has become a particularly hot topic due to a number of incidents. According to Gaetz, last year alone Congress members traded securities worth $788 million.
During his interview with Fox, Gaetz noted that much like referees are not allowed to place bets on the game they are playing, congress members should not be allowed to trade stock.
In his 2024 campaign announcement former President Donald Trump also pushed for a stock trading ban.