U.S. Representative Dusty Johnson (R-S.D.) has joined as a cosponsor of the Restore Trust in Congress Act, bipartisan legislation banning members of Congress and their families from buying or selling individual stocks while serving. The bill, introduced by U.S. Representatives Chip Roy (R-TX) and Seth Magaziner (D-RI), is aimed at restoring public confidence in government decision-making.
“Athletes can’t place bets on games they play in because they have too much of an influence on the outcome. It should be the same for members of Congress – our votes can influence the market or the success of a particular company,” said Johnson. “Serving in Congress is a public service, not a chance to strike it rich. Passing this bill will restore some of the honesty and trust that has been lost in our institution.”
Rep. Roy added, “It’s far past time to ban members of Congress from day trading stocks, and for the first time, a bipartisan coalition is standing together behind a united proposal to do just that. The Restore Trust in Congress Act ensures that members of Congress will no longer be able to put the stock market first in their official decisions. This bill strikes a balance between being easy to comply with, but without tons of loopholes for members to continue trading while on the job. We must vote on this bill and put this conflict of interest to bed for once and for all.”
For agriculture, the legislation is significant. Lawmakers often vote on policies that directly impact agricultural markets, from commodity programs and crop insurance to ethanol and biofuel mandates. If a member of Congress or their family held stocks in major agribusinesses, seed companies, or food processors, their votes on the Farm Bill, trade agreements, or environmental regulations could create conflicts of interest. By prohibiting individual stock ownership, the bill aims to ensure that ag policy decisions are made based on producer needs and national interest rather than personal financial gain.
Johnson, who has not bought or sold an individual stock since taking office in 2019, has consistently advocated for this type of reform.
The Restore Trust in Congress Act requires lawmakers, their spouses, dependent children, and trustees to divest from prohibited assets. Exceptions include diversified mutual funds and ETFs, government bonds, precious metals, certain family trusts, and personal residences. Violations would result in fines of 10 percent of the asset’s value, forfeiture of profits, and public disclosure of penalties.
