Gluesenkamp Perez, Nunn Introduce Bipartisan Bill to Ban Congressional Stock Trading, End Automatic Pay Raises, Extend Lobbying Prohibition

Last week, Rep. Marie Gluesenkamp Perez (WA-03) and Rep. Zach Nunn (IA-03), introduced the bipartisan No Corruption in Government Act to prevent Members of Congress from using public service to enrich themselves. The legislation will prevent stock trading, end automatic annual pay raises, and triple the lobbying ban for Members of Congress.

The bipartisan No Corruption in Government Act will:

• Prevent Members of Congress and their spouses from holding or trading individual stocks.
• Repeal current law that automatically provides a raise for Members of Congress each year.
• Triple the length of the lobbying ban for Members of Congress.

One study found that approximately 20 percent of Members of Congress are buying and selling stocks where there may be a conflict of interest. During the 117th Congress, 78 Members of Congress violated the current law, known as the STOCK Act, which requires public disclosure of trades within 45 days. Public polling suggests roughly 75 percent of Americans support banning Members of Congress from trading individual stocks.

Under current law, Members of Congress receive an automatic pay raise each year, unless Congress passes legislation to prevent it. For 2025, the automatic pay increase for Members of the House of Representatives would be a maximum 3.8% adjustment, or $6,600.

Rep. Gluesenkamp Perez has consistently spoken up against pay raises for Members of Congress. She successfully fought against the inclusion of a Congressional pay raise in the December stopgap measure, as well as in March FY24 appropriations legislation. In June, she called on her bipartisan colleagues to block a pay raise in FY25 appropriations legislation. 

Members of the House of Representatives are banned from lobbying for one year after leaving office and Senators are banned from lobbying for two years. Despite this restriction, lobbying remains the single most popular post-Congress career choice with approximately two-thirds of former Members joining the lobbying industry.

“Serving in Congress should be an opportunity to deliver for your community, not to enrich yourself,” said Rep. Gluesenkamp Perez. “By preventing Members of Congress from trading stocks, receiving yearly pay raises, and turning to lobbying shortly after their term, more lawmakers will be accountable to their constituents and be in the work of governing for the right reasons.”

“Our government is supposed to be of the people, for the people, and by the people. We must return transparency, accountability, and integrity to our nation’s capital,” said Rep. Nunn. “We need common sense in Washington so that our federal government always acts in the best interest of the American people – not for personal gain.”

Full text of the legislation can be found here.