Congressional stock trading fuels voter anger ahead of midterms

Leading into November’s midterms, a poll commissioned by End Citizens United reveals ↑ 40% of likely voters list corruption in Washington as their primary concern, second only to threats to democracy. Congressional stock trading has become the flashpoint, eclipsing gas prices and grocery costs in battleground districts. A 2023 survey found ↑ 86% of Americans favor a ban on members of Congress trading individual stocks, yet many lawmakers continue the practice.

Why Congressional stock trading matters to voters

Lawmakers are legally permitted to buy and sell securities, but conflicts arise when they sit on committees that shape policy for industries in which they hold stakes. For instance, a member of the Armed Services Committee who owns defense manufacturer shares could profit from budget allocations. Moreover, insiders with knowledge of looming events—such as the pandemic that reshaped markets—have historically adjusted portfolios ahead of market moves, as a 2022 Campaign Legal Center report documented.

Case study: Pennsylvania’s 8th District

Republican Rep. Rob Bresnahan Jr., who rode to victory on a promise to end congressional trading, has logged roughly 650 trades worth $8.4 million this year, according to Quiver Quantitative data. In May 2025 he introduced the Transparency in Representation through Uniform Stock Trading Ban (TRUST) Act, but the measure stalled amid partisan gridlock. His campaign spokesperson, Samantha Bullock, told Reuters that “voters need to trust their representatives, which is why Rep. Bresnahan ran on and has sponsored legislation to ban members of Congress from trading individual stocks.”

“When a candidate promises a ban and then becomes one of the most active traders, it erodes confidence,” said Paige Cognetti, Scranton mayor and Bresnahan’s Democratic challenger.

The controversy is bipartisan. Prominent Democrats such as Nancy Pelosi and Rep. Elaine Luria, alongside Republicans like Rep. Diana Harshbarger, have faced scrutiny for lucrative trades and occasional filing lapses under the 2012 STOCK Act. A 2025 study from the Rady School of Management at UC San Diego found that awareness of congressional trading correlates with a perception of Congress as corrupt and reduces public willingness to obey laws.

“It’s not just an ethics issue; it’s a democratic one,” noted Raihan Alam, the study’s lead author. “If we want citizens to follow the rules, we must seriously regulate or ban stock trading by elected officials.”

Anti‑corruption watchdogs argue that the visibility of Congressional stock trading makes it a potent rallying point. Abigail Bellows of Common Cause said, “People see a clear villain—someone they elected—profiting while ordinary citizens struggle.” As the economy polarizes, the perception of a rigged system fuels voter backlash.

With the midterms looming, the issue could swing tight races, especially in districts where incumbents campaigned on reform promises. Whether legislation like the TRUST Act gains traction remains uncertain, but the political cost of ignoring the outcry appears increasingly steep.

Correction: An earlier dispatch misstated the year the TRUST Act was introduced; it was May 2025, not 2024.

Reported by Eleanor Cross (Chief Washington Correspondent).