Congressman Krishnamoorthi Renews Call For Banning Congress From Trading Individual Stocks In Wake Of New Reporting On Senator’s Investments

SCHAUMBURG, IL – Today, Congressman Raja Krishnamoorthi (IL-08) issued the statement below in response to reporting on previously undisclosed investment activity on behalf of Senator Kelly Loeffler (R-GA) following a January 24 senators-only briefing on coronavirus. During the period covered by the new documents, Sen. Loeffler's transactions, which totaled more than $18.7 million, included the sale of stocks in retail stores and an investment in a company that makes COVID-19 protective garments.

"The latest report on a senator's investment activities only further underscores the need to prevent members of Congress from trading individual stocks while making decisions affecting their values and receiving sensitive, nonpublic information through government service," said Congressman Raja Krishnamoorthi. "The Ban Conflicted Trading Act would address this issue by banning such trades, eliminating even the appearance of impropriety while ensuring that members of Congress put their constituents ahead of their portfolios."

Last week, Congressman Krishnamoorthi (IL-08), Congresswoman Alexandria Ocasio-Cortez (NY-14), and Congressman Joe Neguse (CO-02) introduced the House version of Senator Jeff Merkley's Ban Conflicted Trading Act. This announcement came in response to reports of Senators Kelly Loeffler (R-GA) and Richard Burr (R-NC) selling millions of dollars' worth of stocks following classified briefings of the COVID-19 pandemic while publicly downplaying its risks.