U.S. Senator Kirsten Gillibrand is reintroducing the STOCK Act 2.0. The legislation co-sponsored by Rep. Katie Porter (D-CA) would build on the original STOCK Act to help prevent individuals in public positions of service, including Congress members, their staffs, and their families, from using their access for financial improvement.
"The American people need to know that their elected leaders are putting their constituents' interests - not their own financial interests - first," Senator Gillibrand said. "That is the job we were sent to Washington to do."
Rep. Katie Porter said the idea few Americans trust the working interests of the government is dangerous for American democracy.
"By strengthening disclosure requirements and banning top officials from trading stocks, we can help restore faith in our government," Representative Porter said. "The American people deserve to have confidence that those in power are working in the public's interest, not in their own self-interests."
If passed, the STOCK Act 2.0 would ban Congress members, the president, the vice president, Supreme Court justices, Federal Reserve Board Governors and Federal Reserve Bank presidents and vice presidents from engaging in individual stock trades.
