Rep. Elaine Luria, D-Va., is blasting proposals to stop stock trading by lawmakers.
Her comments came after Punchbowl News asked for her thoughts on the proposal.
She responded: "I think this whole concept is b******t. Because I think that, why would you assume that members of Congress are going to be inherently bad or corrupt? We already have the STOCK Act that requires people to report stock trades.
"Why would you assume — I mean, the people that you're electing to represent you, it makes no sense that you're going to automatically assume that they're going to use their position for some nefarious means or to benefit themselves. So I'm very strongly opposed to any legislation like that."
Punchbowl reported that Luria and her husband, Robert Blondin, own $1 million to $5 million in Facebook stock and between $1 million to $5 million in NVIDIA stock, along with $500,000 to $1 million in Netflix stock. It attributed the information to her financial disclosure reports.
The outlet reported the two traded hundreds of thousands of dollars in stocks last year.
Another Virginia Democrat, Rep. Abigail Spanberger, is co-sponsoring the "TRUST in Congress Act" stock trading ban along with Rep. Chip Roy, R-Texas, Insider noted.
Spanberger told the outlet in January that stopping the mere perception of malfeasance in Congress is just as important as stopping actual insider trading.
Luria said this about Spanberger: "I've talked to her. I know that I don't agree with her on this issue. I mean, we're great friends together in Virginia, but it was an issue where we differ."
Insider asked Luria's Communication Director Jayce Genco for further comment. Genco said "Luria's remarks speak for themselves."
Jeffrey Rodack ✉
Jeffrey Rodack, who has nearly a half century in news as a senior editor and city editor for national and local publications, has covered politics for Newsmax for nearly seven years.
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