INTRODUCTION

The Stop Trading on Congressional Knowledge, or STOCK, Act of 2012 was passed as a “first step” to lessen the impact of money in politics and increase trust between Congress and the American people (The White House). The legislation – which enhanced the financial disclosure requirements for securities trading for members of Congress – was crafted in response to multiple reports that suggested insider, or “using non-public knowledge,” trading was occurring among multiple members (Capitol Trades). Other than a provision that could require the forfeiture of a member’s federal pension, the STOCK Act does not include any major consequences for violations nor does it “prohibit” the owning or trading of any specific assets (Congress.gov).

As of November 2025, at least 25 different pieces of legislation have been introduced “to amend the Ethics in Government Act and/or the STOCK Act, to create new law, and/or to amend House rules,” among other actions. Some proposals would enhance the current disclosure requirements in the STOCK Act and others would increase related fines or penalties for violations. Other proposals would restrict the purchase of stock by new members of Congress while others would require all members to divest their holdings. And still others would require all members’ holdings to be placed into blind trusts or would prohibit trading of specific stocks, such as those for companies owned by foreign adversaries. And each of these proposals would apply to different variations of members and their spouses, children, parents, siblings, and others. At the center of the debate lies this question, though: should stock trading be more closely regulated than it is under current law or should it be banned completely for members of Congress? Legislators, think tank leaders, authors, and others have mixed opinions on the issue and no clear legislative path forward currently exists.

So what do you think? This deliberation presents thirteen video clips, five articles, and numerous educational activities to guide students through a review of the debate over how congressional stock trading should be handled. After a careful review of multiple perspectives, students will determine their answer to the question and be presented with several optional extensions to take an active role in the debate.

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Objectives and Outcomes

• Students will be able to describe key vocabulary terms and concepts associated with the debate surrounding how congressional stock trading should be handled.
  
  
• Students will be able to identify and explain aspects of the debate surrounding how congressional stock trading should be handled, including those arguments related to increased regulation or an outright ban.
  
  
• Students will be able to evaluate arguments related to the debate surrounding how congressional stock trading should be handled and formulate an opinion on this question.

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