1. United States
  2. N.C.
  3. Letter

An Open Letter

To: Rep. Harris

From: A verified voter in Waxhaw, NC

July 21

I’m writing to urge you to strengthen H.R. 7008, the Stop Insider Trading Act. I support the goal of ending conflicts of interest that arise when lawmakers can profit from financial activity while serving the public. I truly want to see a real ban on congressional stock trading in practice, not just a limited set of restrictions that can still leave significant room for trading around inside knowledge. While H.R. 7008 would improve transparency and place limits on certain transactions, it does not go far enough to address the core ethical problem: the ability to buy, sell, or otherwise manage individual stock holdings in ways that may be influenced—directly or indirectly—by non-public information obtained through official duties. To make this policy effective, I urge you to include the following must-have additions: First, require divestiture and/or a prohibition on holding covered securities while in office. A functional ban should prevent not only new buying, but also continued ownership or holding that creates ongoing incentives and conflict. If Members (and covered family members) are truly restricted from trading, they should also be restricted from holding the underlying assets that enable trading-related conflict. Second, broaden coverage beyond Members of Congress to include the President (and Vice President) and their covered family members. If the intent is to remove insider trading risk from government decision-making, the executive branch must be included—otherwise the rules will be incomplete and inconsistent. Third, make the ban comprehensive across financial mechanisms that create similar conflicts. The policy should cover more than straightforward stock transactions and should address ownership and exposure through instruments and structures that can function like stock trading, including certain indirect holdings or arrangements that allow economic benefit from covered sectors. Finally, ensure that any exemptions are narrow and do not undermine the core purpose. If broadly diversified funds are allowed, the exemption should not create pathways that effectively replicate individualized trading. I appreciate your attention to this issue and your leadership on accountability. Please strengthen H.R. 7008 by adding divestiture/holding prohibitions, executive-branch coverage, and comprehensive treatment of conflict-enabling financial exposure. I want a rule that meaningfully protects the public trust, not one that merely manages the optics.

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