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Statement: Gottheimer Statement on Cosponsoring Spanberger’s Bipartisan “Trust in Congress Act” to Ban Member Stock Trading

Feb 28, 2022
Press

Setting up blind trust

WASHINGTON, D.C. — Today, U.S. Congressman Josh Gottheimer (NJ-5) released the following statement:

“Prior to taking office, I turned over management of my retirement savings and investments to a third party, who has full investment discretion. Throughout my time in Congress, decisions related to my managed investments have been made at the direction of that third party.

I don’t believe Members of Congress, judges, or any government employee in a policy role, should be involved in the day-to-day trading of securities, including crypto currencies. Now, I am taking the extra step of setting up a blind trust. Additionally, I have also been working closely with Congresswoman Spanberger on her bill, TRUST in Congress Act, which I’m also cosponsoring. That legislation will require Members of Congress to place any stocks or bonds in a blind trust to ensure they have no direct involvement in their investments. I have also urged Rep. Spanberger to broaden her legislation to cover judges and all government employees who are involved in procurement or federal policy making.”

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