Rep. Sykes Opposes Restrictive Voting Legislation That Allows Congressional Stock Trading
WASHINGTON, D.C. — Today, U.S. Representative Emilia Sykes (OH-13) voted against H.R. 7008, the Stop Insider Trading Act that was combined with H.R. 9368, the Voter ID Act.
Rep. Sykes has consistently supported strong congressional ethics reforms, including signing a discharge petition to force a vote on the Restore Trust in Government Act, establishing a comprehensive stock trading ban for top federal officials. She opposed the Stop Insider Trading Act because it leaves significant conflicts of interest unaddressed, and she opposed House Republicans' decision to tie the bill to voting restrictions instead of allowing each proposal to stand on its own.
Rep. Sykes believes Congress should pass meaningful ethics reforms that restore public trust while considering voting legislation on its own merits, not forcing Members to choose between the two.
“The American people are tired of Washington playing games with issues that matter. If we're going to restore trust in government, then let's pass a real stock trading ban, not one riddled with loopholes,” said Rep. Sykes. “And don't ask me to sacrifice Americans' right to vote just to pretend we've solved a different problem. My constituents deserve better than political stunts.”
While the Stop Insider Trading Act creates new restrictions on stock transactions by Members of Congress, it falls short of a comprehensive stock trading ban and leaves significant loopholes that allow conflicts of interest to continue. Among other shortcomings, the legislation:
- Exempts the President and Vice President from its restrictions.
- Does not require covered officials to divest all covered investments.
- Does not ban trading of commodities or futures.
- Does not ban trading of stock in privately held companies.
- Allows Members of Congress to keep stocks they already own and continue selling those holdings.
- Does not require the House Ethics Committee to publicly disclose fines imposed on Members for violations.
The Voter ID Act creates new federal photo identification requirements for voting, including not allowing state or local election officials to provide a ballot to a voter who does not present a valid physical photo ID. That voter may not vote, in-person or otherwise, without the correct documentation. The ban would not apply to military voters serving overseas and certain disabled or elderly voters.
The bill passed the House and now moves to the Senate for consideration.