During House floor remarks on Thursday, Rep. Zach Nunn (R-IA) spoke about the Prohibit Insider Trading Act, a bill to ban congressional stock trading for Members of Congress.
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00:00Mr. Speaker, in 2023, dozens of members of Congress beat the S&P 500, while only 40% of Wall Street pros were able to pull that off.
00:10I think that's got Americans asking, what does Congress have, a secret strategy?
00:15The sad part is, they do. It's called insider trading.
00:20Members of this body are so good at investing in apps like the Pelosi tracker that exists as a stock tip machine,
00:26it's given investors a 45% return in the last year alone, simply by copying the former Speaker's stock trades.
00:35Now, friends, this isn't a partisan issue.
00:37Republicans and Democrats together have made over $200 million in the market last year,
00:42while Americans got hammered by inflation and rising interest rates.
00:46Look, I'm a farm kid from Iowa. When I came to Washington, I didn't have many stocks to sell, but I sold them all because it's the right thing to do.
00:52It is ridiculous that anyone would commit insider trading while being here.
00:58President Trump agrees. Speaker Johnson agrees.
01:01Now is the time to pass my bill, the No Corruption in Government Act,
01:05to finally ban members of Congress from stock trading, stop government pay raises, and extend the lobbying ban.
01:11Mr. Speaker, let's pass this bill and get it to the President's desk and give American people faith back in their democracy.
01:17Gentlemen,
01:18Gentlemen,
01:27gentlemen.