It's "Obvious" Why Politicians Shouldn't Trade Stocks: Elizabeth Warren Sen. Elizabeth Warren, D-Mass. (Getty Images)
By Peter Malbin | Monday, 18 April 2022 12:42 PM
Banning lawmakers from trading stocks should be a key priority for lawmakers, writes Elizabeth Warren in an opinion column in The New York Times.
"Whether you’re a Republican senator or the Democratic speaker of the House, it is obvious to the American people that they should not be allowed to trade individual stocks and then vote on laws that affect those companies. I have the strongest plan and the only bipartisan bill in the Senate to get it done," she writes.
"For years, Americans have identified corrupt government officials as a top concern. And they’re right: to tackle the urgent challenges we face — climate change, income inequality, systemic injustice — we must root out corruption."
Following the House's first hearing on reforming stock trading rules for lawmakers, 19 bipartisan House members are pressuring the Committee on House Administration to move toward marking up a bill, Business Insider Africa reported.
In her wide-ranging New York Times column, the Massachusetts senator opines that Democrats need to deliver on President Joe Biden's agenda before the midterm elections.
"Democrats win elections when we show we understand the painful economic realities facing American families and convince voters we will deliver meaningful change. To put it bluntly: if we fail to use the months remaining before the elections to deliver on more of our agenda, Democrats are headed toward big losses in the midterms."
Warren continued: "We need to finalize a budget reconciliation deal, making giant corporations pay their share to fund vital investments in combating climate change and lowering costs for families, which can advance with only 50 Senate votes."
In order to rein in inflation, Warren says companies need to stop "jacking up prices to boost their profits. Price increases are driven by many factors, including pandemic disruptions to global supply chains and Vladimir Putin’s war in Ukraine. But when the Kroger chief executive, Rodney McMullen, said “a little bit of inflation is always good in our business,” it’s no surprise that, by a margin of two-to-one, American voters don’t buy the explanation that companies are just passing along costs. Instead, they blame corporations for raising prices to boost their own profits."