1. United States
2. Va.
3. Letter

I am writing to urge you to support the ETHICS Act (Ending Trading and Holdings In Congressional Stocks Act), introduced by Senators Jeff Merkley, Jon Ossoff, Gary Peters, and Josh Hawley. This legislation would prohibit members of Congress and their spouses from owning stock investments, addressing a serious conflict of interest that undermines public trust in our government. Recent financial disclosures reveal that at least 50 U.S. lawmakers or members of their households hold investments in military weapons and equipment manufacturers, with total holdings potentially reaching $10.9 million. These same lawmakers vote on Pentagon appropriations legislation that directs hundreds of billions of dollars to these companies annually. The 2024 National Defense Authorization Act, which allocated a record $886.3 billion for the military, passed the House 310-118 with approval from over two dozen members who own shares in military companies. The conflicts are particularly troubling among lawmakers on key defense committees. Senator Susan Collins, ranking member of the Defense Appropriations subcommittee, has a spouse holding up to $50,000 in Boeing and RTX shares. Senator Jerry Moran, also on Defense Appropriations, holds up to $50,000 in Boeing stock while Boeing received nearly $33 billion in defense contracts last year. House Foreign Affairs Committee Chair Michael McCaul's household owns up to $2.6 million in defense contractor stocks. As Craig Holman of Public Citizen notes, this type of conflict of interest is already banned for executive branch officials and should be banned for Congress as well. Whether or not official actions are taken for actual self-enrichment is beside the point. The appearance of self-enrichment is just as damaging to the integrity of Congress. I ask that you cosponsor and vote for the ETHICS Act to restore public confidence in congressional decision-making on military spending and national security.