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Minnesota Democrat reintroducing bill banning members of Congress from owning, trading stocks

The Hill logo The Hill 1/25/2023 Julia Mueller
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Rep. Angie Craig (D-Minn.) on Wednesday announced she’s reintroducing legislation to keep members of Congress from owning or trading stocks.

“Our constituents sent us to Congress to lower health care costs, fix our roads and bridges and help create good-paying jobs, not play the stock market and line our own pockets. Unfortunately, some of my colleagues have gotten sidetracked by special interests and conflicts of interest,” Craig said in a release about the Halt Unchecked Member Benefits with Lobbying Elimination (Humble) Act.

The Humble Act would also slap lawmakers with a lifetime ban on lobbying and restrictions against serving on corporate boards while in Congress. 

Lawmakers wouldn’t be able to fly first-class with taxpayer funds — and their pay would be withheld if the House failed to elect a Speaker on the first day of a new Congress, entering another drawn-out Speakership fight like the one that saw Rep. Kevin McCarthy (R-Calif.) elected earlier this month.  

Craig’s proposal follows the reintroduction earlier this month of the Transparent Representation Upholding Service and Trust (TRUST) in Congress Act. 

Led by Reps. Abigail Spanberger (D-Va.) and Chip Roy (R-Texas), the TRUST in Congress Act which would require members of Congress, their spouses and their dependent children to transfer certain investment assets into a qualified blind trust while serving on Capitol Hill. 

Craig’s proposal also comes as Sen. Josh Hawley (R-Mo.) put forth the Preventing Elected Leaders from Owning Securities and Investments Act, the name a swipe at Rep. Nancy Pelosi (D-Calif.).  

The bill also seeks to ban members of Congress from trading and owning stocks.  

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