Republican Rep. Bryan Steil told Laura Ingraham this week that the law governing congressional stock trading is “woefully insufficient” and that the moment is ripe for meaningful reform. Americans watching Washington saw what happens when politicians are allowed to trade in the same markets they regulate, and Steil urged colleagues to treat this as a big opportunity to restore trust.
This is not a partisan gripe but a predictable reaction to years of scandal and eyebrow-raising trades, from pandemic-era disclosures to recent market moves where lawmakers’ portfolios looked suspiciously well-timed. Polling and coverage show overwhelming public support for a stronger remedy, because hardworking citizens rightly believe the rules should protect the public interest, not private enrichment.
Conservative lawmakers are already moving — GOP members like Rep. Greg Steube and others have pushed for aggressive measures and even a discharge petition to force votes on a ban, signaling that this issue cuts across party lines when it comes to accountability. If Republicans are serious about limited government and clean markets, they should champion a straightforward ban rather than papering over the problem with cosmetic disclosure tweaks.
The STOCK Act and the current disclosure regime were supposed to address insider-trading concerns, but as Steil notes, those statutes have too many loopholes and weak enforcement, leaving the American people skeptical. A law that only requires delayed disclosure or plays whack-a-mole with ethics rules won’t fix the perception — or the reality — that some in Congress use information and influence to pad their portfolios.
Let’s call out the hypocrisy plainly: when elite Democrats or their spouses appear to get rich while ordinary Americans tighten their belts, trust in institutions craters. Conservatives should not cower from demanding the same ethical standards we expect of private-sector executives; in fact, we should lead the charge by holding every lawmaker to a higher standard.
What should reform look like? A conservative, pro-market approach is simple: ban members of Congress from trading individual stocks, require immediate divestment into true blind trusts or low-cost index funds, and impose real criminal penalties for violations. Steil’s message that the American people “deserve to know” must translate into concrete rules that eliminate temptation and restore confidence.
If Republicans fail to act, the vacuum will be filled by demagogues and opportunists who exploit outrage for political gain and push for heavier-handed, illiberal solutions. The smarter, more patriotic path is for conservative lawmakers to fix the problem decisively now, proving that limited government can also be honest government.
Hardworking Americans deserve a Congress that serves the public interest, not one that treats public office as a private hedge fund. Stand with leaders like Rep. Steil who recognize the problem and push for real reform — because restoring trust in Washington is not a partisan favor, it is a duty to the republic.
