Burnett Pushes for Full Ban on Congressional Stock Ownership as GOP Reform Bill Advances

By Michael Phillips | MDBayNews

GAITHERSBURG, Md. — As House Republicans move forward with legislation aimed at curbing congressional stock trading, Maryland 6th District congressional candidate Chris Burnett is calling for a stricter approach, arguing that lawmakers should be barred entirely from owning individual stocks while in office.

Burnett’s comments follow the introduction of the Stop Insider Trading Act, sponsored by House Administration Committee Chairman Bryan Steil (R-Wis.) and scheduled for committee markup on Wednesday, January 14.

The bill would prohibit Members of Congress, their spouses, and dependent children from making new purchases of individual publicly traded stocks. It would also require lawmakers to file a public notice at least seven days — but no more than 14 days — in advance of any planned stock sale with the Clerk of the House or the Secretary of the Senate. Existing stock holdings would be allowed to remain, and diversified investment vehicles such as mutual funds and ETFs would be exempt.

Supporters argue the measure strengthens transparency and responds to public concerns over potential conflicts of interest, while critics from both parties have described it as a compromise that stops short of full reform. Those critics note that the bill does not require divestment of current holdings and leaves broader concerns — such as lawmakers overseeing industries in which they already hold stock — largely unaddressed.

Burnett welcomed the bill as progress but said it does not go far enough.

“While this is a positive step forward, I remain opposed to any conflict of interest, including stock ownership,” Burnett said in a statement released January 12. “I have consistently advocated for banning Members of Congress from owning stocks while in Congress and have stated repeatedly that I would divest all my holdings before entering Congress.”

Debates over congressional stock trading have intensified in recent years following reports of lawmakers buying or selling securities in sectors affected by legislation or government briefings. The existing STOCK Act requires transaction disclosures but permits ownership and trading, a framework critics say has failed to restore public confidence.

Burnett’s position aligns with a growing bipartisan sentiment among voters that disclosure alone is insufficient, even as lawmakers disagree on how far reforms should go.

A retired Marine Corps officer and national security attorney, Burnett is seeking the Republican nomination in Maryland’s 6th Congressional District, which includes Western Maryland and portions of Montgomery County. Ethics, accountability, and government transparency are expected to feature prominently in the June 23, 2026, primary campaign.

More information about Burnett’s campaign is available at burnettforcongress.com.

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