Rep. Salinas Introduces Legislation Cracking Down on Insider Trading in Congress and the White House

WASHINGTON, D.C. — Today, Oregon Congresswoman Andrea Salinas (OR-06), alongside Reps. Haley Stevens (MI-11), Derek Tran (CA-45), and Eric Sorensen (D-IL), introduced the No Getting Rich in Congress Act, sweeping legislation to crack down on insider trading in Congress and the White House, restore trust in government, and ensure public service is about serving the American people, not personal profit.

According to the latest polling, Congress’s approval among the American people sits at a near-record low of 17%. Across party lines and generations, voters agree: Washington is broken. Too often, elected officials use their positions to advance their financial interests instead of delivering results for their constituents. 

The No Getting Rich in Congress Act establishes strong, enforceable standards to prevent officials from profiting from conflicts of interest and close longstanding loopholes that have undermined confidence in federal leadership.

“Members of Congress, federal officials, and their family members should never be allowed to profit from privileged information,” said Rep. Salinas. “That is why I support this legislative package to create additional guardrails to ban trading by public officials and their families, to regulate any insider influence, and broaden ethics rules so that the people in power are motivated by serving the American people, not personal profit.”

“The American people deserve leaders who are working for them, not for their stock portfolios, not for corporate board seats, and not for foreign adversaries,” said Rep. Haley Stevens. “Michiganders want results from their government, not self-dealing. The No Getting Rich in Congress Act draws a clear line: public servants must put their communities first, not profit.”

“When I’m home in Orange County, I constantly hear from constituents who have lost faith in our government because they’ve watched scandal after scandal plague corrupt politicians. They want to see elected officials working for the people, not for rich donors or foreign governments. Congress can’t wait another day to earn back the public’s trust,” said Rep. Derek Tran. “The No Getting Rich in Congress Act has been shaped by months of work to close every loophole, eliminate every exemption, and find every measure of accountability to put Congress back to work for the people, not their own profits. I’m proud to introduce this legislation with Representative Stevens to not only ban Congressional stock trading, but rein in every practice that puts moneyed interests ahead of our communities. We’re scrapping politics as usual and putting people first.”

"Members of Congress should not be able to use our positions for personal and financial gain. I am cosponsoring the No Getting Rich in Congress Act because it makes long-overdue reforms to increase transparency, strengthen ethics rules, and earn back the American people’s trust. I’m urging every one of my colleagues to join us—because the people we represent deserve to know that we are working for them,” said Rep. Eric Sorensen.

The legislation is also cosponsored by Rep. Marcy Kaptur (D-OH).

Key Provisions of the Legislation:

• Bans trading by public officials and their families. Prohibits the President, Vice President, Members of Congress, candidates for federal office, spouses, and dependents from buying or selling individual stocks, futures, commodities, and cryptocurrency, with strict reporting and enforcement mechanisms, including penalties for violations.
• Prohibits lobbying on behalf of foreign adversaries. Permanently bans former public officials from lobbying on behalf of foreign adversaries, including China, to influence U.S. government decisions.
• Closes loopholes and regulates shadow lobbying. Requires spouses of both Members of Congress and senior Administration officials to register and report any effort to influence government decisions, ensuring spouses cannot use public office for personal financial gain.
• Restricts corporate board service. Bars Members and their spouses from serving on or being officers of a corporate board, with strict reporting and conduct requirements for any pre-existing board service.
• Extends existing ethics rules to spouses and dependents. Applies all gift, travel, and reimbursement restrictions that cover Members to their spouses and dependents, preventing backdoor deals and conflicts of interest.

Full bill text can be found here. 

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