[Congressional Record Volume 158, Number 16 (Wednesday, February 1, 2012)]
[Extensions of Remarks]
[Pages E113-E114]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          H.R. 1148--STOCK ACT

                                 ______
                                 

                     HON. DEBBIE WASSERMAN SCHULTZ

                               of florida

                    in the house of representatives

                      Wednesday, February 1, 2012

  Ms. WASSERMAN SCHULTZ. Mr. Speaker, I rise today to urge our House 
leadership to schedule a vote on the Stop Trading on Congressional 
Knowledge Act, or ``STOCK Act,'' filed by my friend and colleague 
Congressman Walz of Minnesota. I am proud to be a cosponsor of this 
common-sense legislation, which would prohibit Members of Congress from 
profiting from the nonpublic information to which we are often privy.
  It is just plain common sense that we, as Members of Congress, should 
be held to the same standard as the American people we represent when 
it comes to insider trading. It is not right when a company executive 
does it, and it's not right when a Member of Congress does it.
  The fact that action has not been taken sooner to clearly prohibit a 
Member of Congress from acting for personal gain on such information is 
frankly shocking.
  Over the past several months, the American people have been 
increasingly vocal that enough is enough. It is high time for the 
Congress to come together to pass this bill and send a strong message 
that Congress should, and will, play by the same rules as everyone 
else.
  Just as we have passed Wall Street reform in the 111th Congress; we 
must act now to ensure that the law is crystal clear when it comes to 
the activities of our own colleagues. Personal financial gain from non-
public information cannot be tolerated.
  In this very chamber last week, President Obama made special mention 
of his support for the STOCK Act, calling on Congress to ``send me a 
bill that bans insider trading by Members of Congress, and I will sign 
it tomorrow.''
  Like many of my colleagues on both sides of the aisle, I have 
received countless calls and emails from my constituents urging the 
Congress to answer the President's call and bring debate of the STOCK 
Act to the House floor for a vote.
  Congress must waste no time in coming together to pass this bill in a 
strong bipartisan fashion, and by doing so, restore the American 
people's trust in the integrity of the system, the democratic process, 
and their elected officials.
  I urge our leadership in the House to respond to the President's call 
to action by following the Senate's lead in bringing the STOCK Act to 
the Floor for debate, and to schedule a vote on this sensible and 
responsible legislation.
    

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