Congressman Sorensen Helps Introduce Congressional Stock Trading Ban

WASHINGTON, DC – Congressman Eric Sorensen (IL-17) is helping to lead efforts to crack down on Members of Congress using their elected positions for personal gain. He joined Congresswoman Haley Stevens (MI-11), Congressman Derek Tran (CA-45), and Congresswoman Andrea Salinas (OR-06) to introduce sweeping legislation that would prevent self-dealing and make key reforms to restore public trust in Congress.

"Members of Congress should not be able to use our positions for personal and financial gain. I helped introduce the No Getting Rich in Congress Act because it makes long-overdue reforms to increase transparency, strengthen ethics rules, and earn back the American people’s trust. I’m urging every one of my colleagues to join us—because the people we represent deserve to know that we are working for them,” said Congressman Eric Sorensen.

Key Provisions of the No Getting Rich in Congress Act:

• Bans trading by public officials and their families. Prohibits the President, Vice President, Members of Congress, candidates for federal office, spouses, and dependents from buying or selling individual stocks, futures, commodities, and cryptocurrency, with strict reporting and enforcement mechanisms, including penalties for violations.
• Prohibits lobbying on behalf of foreign adversaries. Permanently bans former public officials from lobbying on behalf of foreign adversaries, including China, to influence U.S. government decisions.
• Closes loopholes and regulates shadow lobbying. Requires spouses of both Members of Congress and senior Administration officials to register and report any effort to influence government decisions, ensuring spouses cannot use public office for personal financial gain.
• Restricts corporate board service. Bars Members and their spouses from serving on or being officers of a corporate board, with strict reporting and conduct requirements for any pre-existing board service.
• Extends existing ethics rules to spouses and dependents. Applies all gift, travel, and reimbursement restrictions that cover Members to their spouses and dependents, preventing backdoor deals and conflicts of interest.

Congressman Sorensen has long been a supporter of reforms to ensure that government is working for Illinois families, not special interests. He has been a longtime co-sponsor of the TRUST in Congress Act and the Restore Trust in Congress Act, both pieces of bipartisan legislation that would prevent members of Congress and their families from trading individual stocks.

Congressman Eric Sorensen represents Illinois’ 17th District in the United States House of Representatives. Prior to serving in Congress, Sorensen was a local meteorologist in Rockford and the Quad Cities for more than 20 years. His district includes Illinois’ Quad Cities, Rockford, Peoria, and Bloomington-Normal.  

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