Public Service, Not Personal Gain

BIG Update

Members of Congress should not be allowed to buy and sell individual stocks. Insider trading is already illegal, and some Members have spent time in prison for it. We should go further, though, banning members from making stock transactions that are legal for other citizens. It looks lousy for a Member of Congress to trade stocks in advance of congressional action, even when based on publicly-available information. 

The Stop Insider Trading Act passed the House this week with my support. This bill prohibits Members, their spouse, and dependent children from buying individual stocks while in office and implements an advanced notice requirement for any Member looking to sell already-held stocks. I’ve been among those leading the charge to pass this commonsense legislation through the House.

BIG Idea

Prediction markets have been around for centuries, adapting to the demands of the marketplace and emerging technologies. As chairman of the House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development, I held a hearing this week to examine whether our current guardrails are keeping up with the times. 

Tens of billions of dollars in transactions are taking place in this space every month. Sports-related prediction markets have grown exponentially in the past few decades. I’m looking forward to continuing the committee’s work as we examine the unique nature of these markets and the federal government’s role in their regulation. 

BIG News

Every year, Congress must pass the annual defense bill or National Defense Authorization Act (NDAA). This year’s NDAA passed the House with my support to ensure our military is ready to meet the modern challenges of today and tomorrow. The bill includes full funding for the Ellsworth B-21 Raider strategic bomber program, provides our servicemembers with a 5-7% pay raise, and strengthens our role in countering China’s threat. 

The bill also secures our supply chain and expands our production capacity so our troops will have what they need when they need it – and not rely on China. A strong United States military means a safer country and safer world. I was proud to support this legislation to keep Americans secure for generations to come.