The Hon. Joseph Lieberman, Chairman
The Hon. Susan Collins, Ranking Member
Committee on Homeland Security & Governmental Affairs
Washington, D.C. 20510
Support the "Stop Trading on Congressional Knowledge Act" And Send Strong Legislation to the Senate Floor for Full Consideration
Dear Chairman and Ranking Member:
Our organizations - the Campaign Legal Center, Citizens for Responsibility and Ethics in Washington, Common Cause, Democracy 21, Public Citizen, the Sunlight Foundation and U.S. PIRG - strongly support passage of the "Stop Trading on Congressional Knowledge Act" (STOCK Act), designed to prevent congressional insider trading.
We urge the Senate Committee on Homeland Security & Governmental Affairs to approve a strong version of the legislation at its markup on Wednesday and send it to the Senate floor for final passage.
The STOCK Act provides a clear and unambiguous application of the laws against insider trading to members of Congress and their staff, and others who do business with Congress. The Act also provides for disclosure to ensure compliance with the law.
The STOCK Act has widespread support, including strong bipartisan support from members of Congress. We urge the Committee to follow through on the public's expectation that Congress will act promptly to address this important issue.
The Committee is expected to mark-up legislation that embodies key elements of the legislation sponsored by Senators Kirsten Gillibrand (D-NY) and Scott Brown (R-Mass.), and by 25 other Senators as well. We urge the Committee to report the bill tomorrow and the Senate to act on the legislation either before the Senate adjourns this year or at the outset of next year's session.
Campaign Legal Center
Citizens for Responsibility and Ethics in Washington