Message from Rob Wittman:
Dear Friends and Neighbors,
Today, I voted in favor of H.R. 7008, the Stop Insider Trading Act. This legislation ensures that lawmakers cannot use their positions to profit from insider information — increasing transparency and restoring public trust.
Since coming to Congress, my top priority has always been serving Virginians and their families. Members of Congress were elected to serve their constituents, not their stock portfolios. I was proud to vote in support of this legislation to strengthen transparency, hold lawmakers accountable, and restore Americans’ trust in the elected officials working on their behalf.
Specifically, the Stop Insider Trading Act:
- Prohibits Members of Congress, their spouses, and their dependent children from purchasing securities issued by publicly traded companies;
- Requires Members to publicly disclose any intended stock sale at least 7 days, but no more than 14 days, before the transaction; and
- Imposes a penalty fine equal to $2,000 or 10% of the value, whichever is greater, of the transaction for Members who violate these requirements.
Sincerely,
Rob Wittman
Member of Congress, Virginia’s 1st District