'Members of Congress should be focused on their constituents—not advancing their own stock portfolios.'
"Members of Congress should be focused on their constituents—not advancing their own stock portfolios," said Democratic Rep. Mark Pocan.As the coronavirus pandemic continued to roil the U.S. economy and take lives in 2021, congressional lawmakers and their family members went on a stock buying and selling spree, trading an estimated $355 million worth of shares in Facebook, Apple, and other prominent corporations.
"McCaul's biggest disclosed trades in 2021 include sales by a child and his spouse of shares in Cullen/Frost Bankers , a bank headquartered in McCaul's state, as well as sales by his spouse of shares of China’s Tencent Holdings ," according toFollowing McCaul was Rep. Ro Khanna , who disclosed $33.6 in stock buys and $19.1 million in sales. A spokesperson for the California Democrat toldthat would bar members of Congress from buying or selling individual shares of companies.
Kedric Payne, senior director of ethics and general counsel at the Campaign Legal Center, said in response to thereporting that"when the public sees a large volume of trades by members of Congress, it just raises the question of why that is occurring, and if it is without conflicts of interest.
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U.S. lawmakers traded an estimated $355 million of stock last year. These were the biggest buyers and sellers.Stock trading is a bipartisan activity in Washington, disclosures show. Republicans traded a larger dollar amount overall — an estimated $201 million vs. Democrats’ $154 million.
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