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Delgado backs efforts for blind trusts for Congressional stockholders

Jan 31, 2022 1:45 pm

Rep. Antonio Delgado on Jan. 30 joined those calling for a ban on members of Congress trading stocks while in office. Rep. Abigail Spanberger, a Democrat from Virginia, and Rep. Chip Roy, a Republican from Texas, last year introduced a measure to ban members of Congress from trading stocks after revelations that several Republicans used insider knowledge during the early days of the COVID-19 pandemic to buy stocks in companies likely to do well through the outbreak. The bill got little traction until Democrat Nancy Pelosi, the Speaker of the House, came out against the proposal. That incited support, from both sides of the aisle. There is now a similar bill in the Senate, and momentum to pass something. The bills would require members of Congress, their spouses and dependent children, to place their stocks in a blind trust while the member is in office. Lawmakers often have access to privileged information, and these bills would attempt to quash efforts to make money on that insider knowledge. "This is a bipartisan, bicameral effort that I am proud to be a part of. Members of Congress should work to represent their communities, not to turn a profit," Delgado said in a Jan. 30 Tweet.

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