Baumgartner Votes to Pass the Stop Insider Trading Act

Baumgartner Votes to Pass the Stop Insider Trading Act July 22, 2026 | Press Releases WASHINGTON, D.C. — Today, Congressman Michael Baumgartner (WA-05) voted to pass The Stop Insider Trading Act that will ensure that lawmakers cannot use their positions to profit off insider information. “I am proud to support this important legislation to prevent members of Congress from profiting off stock trades,” said Congressman Baumgartner. “As a cosponsor of the legislation, I believe lawmakers should never be in a position to personally profit from information gained through public service. The American people deserve a Congress that is accountable, transparent, and worthy of their trust,” he said. The Stop Insider Trading Act: General prohibition on stock purchasing – Bans Members, their spouses, and their dependent children from purchasing securities issued by a publicly traded company, with limited exceptions like widely diversified mutual funds and interests in small businesses; Advanced public disclosure to sell – Requires Members to file a public notice at least 7 days, but no more than 14 days, in advance for any intended stock sale with the Clerk of the House of Representatives or the Secretary of the Senate; If a member of Congress, their spouse, or dependent child decides not to sell a covered investment, the Member must publicly withdraw the notice prior to its expiration; and Penalties – Violators will be assessed a fine equal to $2,000 or 10% of the value of the transaction, whichever is greater, and any net gain realized from a transaction. The Stop Insider Trading Act passed the House on July 22, 2026, by a vote of 232-198. The Act must now pass the Senate before it can go to the President’s desk to be signed into law.