Rep. Josh Riley is taking aim at what he calls “self-dealing in Congress” with a new bipartisan bill that would ban lawmakers and their families from owning or trading individual stocks.
Riley, a Democrat representing New York’s 19th District, introduced the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act on Wednesday. The legislation has support from a diverse group of lawmakers, including Reps. Alexandria Ocasio-Cortez (D-NY), Raja Krishnamoorthi (D-IL), Jen Kiggans (R-VA), Michael Cloud (R-TX), and Joe Neguse (D-CO).
“Upstate New York knows what it’s like to be sold out by greed on Wall Street and corruption in our politics,” Riley said in a statement. “If you’re in Congress, you should focus on serving the people, not yourself.”
What the ETHICS Act would do
The bill would prohibit members of Congress, their spouses, and dependent children from:
- Owning or trading individual stocks, securities, commodities, or futures
- Using non-public information gained through their positions for financial gain
Lawmakers would be required to divest any covered assets or move them into a qualified blind trust. Those who violate the rules could face fines of at least one month’s congressional salary.
Supporters say the measure is meant to eliminate conflicts of interest and rebuild public trust. A recent poll cited by bill sponsors shows 70% of voters back a stock trading ban for lawmakers.
“When Members of Congress hold financial assets that stand to be affected by their own policy decisions, it creates not just the appearance, but often the reality, of a conflict of interest,” said Rep. Krishnamoorthi.
Part of a bigger push
The ETHICS Act is the latest in a series of reform efforts championed by Riley. He has also backed proposals for congressional term limits, campaign finance reform, and transparency initiatives like the Ending DOGE Conflicts Act.
Riley says the goal is simple: “Restore trust and put public service ahead of personal gain.”
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