Over 85% of Americans favor barring members of Congress, the President, and Supreme Court justices from investing in individual companies.
WHY IT MATTERS – Lately, there has been a push to prohibit members of Congress from trading stocks as means of restoring public trust and limiting the opportunity for graft.
THE NUMBERS – A recent national survey by the Program for Public Consultation polled Americans on the issue of government officials trading stocks.
Do you favor or oppose the proposal to prohibit members of Congress (in the House and Senate) and the family that lives with them, from trading stocks in individual companies? They would still be allowed to buy or sell shares of mutual funds or index funds that include stocks in numerous companies.
- 86% – Favor
- 13% – Oppose
- 1% – Not sure
Do you find the following argument convincing or unconvincing? “There are too many potential conflicts of interest when members of Congress can hold and trade stocks in individual companies. Members often take actions that significantly affect companies and industries, which they may have stocks in. Banning stock trading would give the public greater trust that their officials are serving the interest of the nation, not their own wallet. This is an easy way to prevent corruption and restore trust in government.”
- 92% – Convincing
- 7% – Unconvincing
- 1% – Not sure
Do you favor or oppose the proposal to prohibit the President, the Vice President, and Supreme Court Justices from trading stocks in individual companies? They would still be allowed to buy or sell shares of mutual funds or index funds that include stocks in numerous companies.
- 87% – Favor
- 12% – Oppose
Do you favor or oppose the proposal to prohibit all federal employees from trading stocks in individual companies? They would still be allowed to buy or sell shares of mutual funds or index funds that include stocks in numerous companies.
- 40% – Favor
- 59% – Oppose
- 1% Not sure
THE BOTTOM LINE – An overwhelming majority of Americans – across partisan affiliations – support barring federal political figures from trading stocks in individual companies, due to potential conflicts of interest. Still, most Americans do not support extending such a ban to all federal employees.
GO DEEPER –
Program for Public Consultation – Ban on Stock Trading for Members of Congress Favored by Overwhelming Bipartisan Majority