January 15, 2026
The Honorable Bryan Steil
1526 Longworth House Office Building
Washington, DC 20515
Dear Chairman Steil,
On behalf of National Taxpayers Union, the nation’s oldest taxpayer advocacy organization, I write to express our strong support for H.R. 7008, the Stop Insider Trading Act. By prohibiting members of Congress from purchasing individual stocks, this practical ethics reform is a much-needed step toward restoring public trust in government.
Few issues spark as much public outrage as the perception that members of Congress use their privileged access to information to further their own financial interests. It’s only reasonable for Americans to expect their elected officials to be guided by the public interest rather than their personal brokerage accounts.
This legislation takes a prudent, targeted approach that focuses on preventing opportunities to profit off of inside information. This bill prohibits members of Congress, their spouses, and dependents from purchasing new individual stocks while in office. Lawmakers and other covered persons are also required to file a public notice at least seven days before selling any stock.
While there are other worthy proposals to improve ethical guidelines, NTU is pleased to support this legislation that offers a pragmatic, enactable approach.
The STOCK Act of 2012 was perhaps the right law at the right time, but there is clearly a need for it to be updated. The Stop Insider Trading Act strikes the right balance, tackling real conflicts of interest while keeping Congress open to entrepreneurs and everyday Americans who bring practical experience to public service. We are proud to support this legislation and look forward to working with you to help it reach President Trump’s desk.
Sincerely,
Alex Ciccone
Policy and Government Affairs Manager
National Taxpayers Union