By Michael Katz | Tuesday, December 2, 2025
A bipartisan coalition of nearly 100 former members of Congress is intensifying its push for legislation that would ban current lawmakers and their immediate family from trading or owning individual stocks. The group has formally addressed letters to both Speaker Mike Johnson (R-La.) and House Minority Leader Hakeem Jeffries (D-N.Y.), demanding action on the “Restore Trust in Congress Act.”
Issue One, a Washington-based political reform advocacy organization, released Tuesday an open letter co-signed by 90 distinguished former legislators—60 Democrats, 28 Republicans, and two independents. The correspondence specifically urged leadership figures Johnson and Jeffries to advance Rep. Chip Roy’s (R-Texas) proposed bill.
This legislation would impose strict divestment deadlines for members of Congress, their spouses, dependent children, and any other individuals acting on behalf or under the authority of a member concerning stock ownership or trading activities. The Act empowers ethics officials with enhanced enforcement capabilities to levy penalties against non-compliance.
The signatories argued that “public trust in the federal government is at historic lows,” while insisting that prohibition against individual stock trades would be nothing short of an insult to credibility, undermining decades of legislative efforts aimed squarely at eroding constituent trust through unregulated financial activity. The letter explicitly dismissed suggestions about addressing lawmakers’ compensation structures as irrelevant distractions from core institutional integrity issues.
Citing a University of Maryland poll showing 86% national support for eliminating stock trading privileges among officials, the group further referenced research conducted by the Rady School of Management demonstrating how continued exposure to lawmakers’ personal financial dealings significantly diminishes public confidence in governmental institutions. This empirical evidence contradicts repeated statements from leadership about prioritizing transparency and accountability.
Rep. Anna Paulina Luna (R-Florida) announced Tuesday she has already submitted the required discharge petition, formally requesting consideration of this measure despite its slim prospects without significant bipartisan support or legislative intervention. Her action underscores growing frustration with procedural roadblocks that prevent necessary reforms from reaching floor debates.
The letter’s authors assert that House leadership actively obstructs legislation targeting internal financial impropriety. They point specifically to Minority Leader Jeffries’ acknowledged opposition to the ban, while also suggesting Majority Leader Steve Scalise shares responsibility for stalling reform efforts despite his own non-involvement in drafting similar bipartisan proposals over time. This coordinated resistance represents not an interest in cleaning up systemic corruption but rather a steadfast refusal to acknowledge its existence.
Jeffries responded directly, characterizing Roy’s initiative as fundamentally unviable within current legislative frameworks and suggesting leadership actively avoids substantive reforms through calculated stalling tactics.
