PROFITING DURING PARALYSIS:

In the 119th Congress, just under half of Members (47%) own stocks and/or widely held investments and made trades totaling at least $635 million through the first 10 months of 2025. As many Members of Congress making trades typically outperform the market overall, owning and trading stocks have created longstanding issues related to insider trading and perceived and actual conflicts of interest. From before and during the COVID era to present day, there have been numerous instances of Members of Congress potentially using their office to enrich themselves.

 

Voters expect Members of Congress to focus entirely on their legislative responsibilities and to avoid the appearance of using their public office for their private financial gain. During government shutdowns, extensive trading by Members draws into question whether they are focused on carrying out their legislative duties or furthering their own private financial interests, which further erodes public trust. Last fall, during the longest federal government shutdown in American history, nearly 60 Members of Congress reported making securities or stock trades. These trades were disclosed in federally required financial disclosure reports—“periodic transaction reports” (PTRs). The six-week shutdown in Fall 2025 saw Members of Congress make hundreds of investment transactions, which could have totaled nearly $100 million. More than 10 percent of Members of Congress—34 Republicans and 23 Democrats—traded securities during the shutdown, including at least 46 House Members and 11 Senators who reported making trades during this time.

 

Ahead of last fall’s shutdown, Democracy Defenders Action sent a letter to Congress warning them that as millions of Americans were losing SNAP benefits and receiving letters that their health insurance costs would be skyrocketing, the optics of Members of Congress making trades on their investments, and the potential perception of insider trading, would send a signal that Congress is out of touch with everyday Americans. Unfortunately, a not insignificant number of Members did not heed that warning. At a time when public trust in government is near an all-time low, it has become all too clear that Congress must take bold action to give Americans faith and confidence that their elected officials are working in the public interest and not lining their own pockets. With polling showing that between 75% and 86% of Americans believe Members of Congress should be banned from owning and trading stocks while in office, Congress should immediately pass comprehensive legislation that bans Members, their spouses, and dependent children from owning or trading stock.