Congressman Kim Reintroduces Bill to Ban Government Officials From Owning and Trading Stocks, Setting Single Standard Across Government

WASHINGTON D.C. – Today, Congressman Andy Kim (NJ-03) re-introduced his Restoring Trust in Public Servants Act, a bill that would set one standard across all three branches of the federal government – including Congress, the President, Vice President, and the Supreme Court– to prohibit ownership of individual stocks.

“The Constitution is a sacred document in our country. If you work a job empowered by the Constitution, you should hold yourself to the highest of standards and leave no doubt that you are serving the American people and not your own political or personal benefit,” said Congressman Kim. “This bill is intended to set a standard across our entire government because all public servants, especially those at the highest levels, owe the people they serve their undivided attention and loyalty. Americans deserve to have complete faith in the people who choose to serve in our government as well as the people they elect, and this bill would be a first step in restoring that trust.”

Congressman Kim’s proposal would prohibit stock ownership for Members of Congress, their spouses and dependent children, and all congressional staff; the President, Vice President, all political appointees, and senior executive branch employees already required to file under the STOCK Act; and federal judges. The Restoring Trust in Public Servants Act also goes beyond stock ownership to prohibit Members of Congress from having outside employment or income, sitting on corporate boards, or lobbying for the rest of their lifetime after leaving Congress—including “shadow lobbying,” or advising other lobbyists behind-the-scenes.

A fact sheet detailing the forthcoming bill can be found here.

Congressman Kim testified before the House Administration Committee about banning stock ownership today. You can read his testimony here.

Congressman Kim is committed to cleaning up money in politics, strengthening ethics and transparency laws, and restoring our Democracy. When he was elected in 2018, Congressman Kim promised to hold at least one town hall every month. To date, the Congressman has hosted 60 town halls since January 2019. Congressman Kim posts his daily activities publicly on his website so constituents in Burlington, Mercer, and Monmouth Counties can see the work he is doing on their behalf.

Congressman Kim is the Ranking Member on the Military Personnel Subcommittee, and a member of the House Armed Services Committee, the Foreign Affairs Committee, and the Select Committee on China. More information about Congressman Kim’s accessibility, his work serving New Jersey’s 3rd Congressional District, and information on newsletters and his monthly town halls can be found on his website by clicking here.

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