Rep. Porter pushes to ban trading of Defense stocks by Retired Officials
For this year’s defense bill, I reintroduced anti-corruption amendments on Pentagon officials trading Big Defense stock and lobbying after they leave public service. These passed the House with bipartisan support in the past, but now, Republicans won't even let them get voted on.
I will not be silent as Congress moves in the wrong direction on Pentagon oversight. I’ve now introduced those anti-corruption amendments as standalone bills, to keep up the pressure for cracking down on special interest influence. porter.house.gov/news/documents…
BREAKING: Representative Katie Porter has proposed a bill that would ban defense officials from trading stock in defense contractors. I've been analyzing data on congressional trading for years. Here's why Congress should be banned from trading defense stocks as well:
Many members of Congress who vote on the defense budget also own stock in defense contractors. - 32 members of Congress own Lockheed Martin, $LMT. - 21 members own Raytheon, $RTX. - 20 members own General Dynamics, $GD. Some of these trades are suspicious:
