Official White House announcements and executive order records

Biden Urges Ban on Congressional Stock Trading After Lawmakers Earned $204 Million

Dec 17, 2024, 05:52 PM

President Joe Biden has endorsed a ban on congressional stock trading, stating that "nobody in Congress should be able to make money in the stock market while they're in the Congress." In an interview set to be released this week, Biden emphasized, "I think we should be changing the way the system works" to restore public trust in lawmakers. He called out members of Congress who leverage their "inside track" for financial gain, highlighting concerns over ethics and transparency. This marks the first time Biden has publicly taken a stance on the issue, which has been debated on Capitol Hill for years. According to estimates by Quiver Quantitative, members of Congress have made approximately $204.4 million in the stock market this year.