President Obama signed the STOCK Act this morning, bipartisan legislation that bans insider trading in Congress and takes major steps towards a more open, transparent government. In remarks at the ceremony, the President explained the bill’s importance:
The STOCK Act makes it clear that if members of Congress use non-public information to gain an unfair advantage in the market, then they are breaking the law. It creates new disclosure requirements and new measures of accountability and transparency for thousands of federal employees. That is a good and necessary thing. We were sent here to serve the American people and look out for their interests—not to look out for our own interests.
In the months to come, we’re going to have plenty of debates over competing visions for this country that we all love: Whether or not we invest in the things that we need to keep our country safe and to grow our economy so that’s it’s sustained and lasting. Whether or not we’ll ask some of our wealthiest Americans to pay their fair share. How we’re going to make sure that America remains the land of opportunity and upward mobility for all people who are willing to work. Those are all debates that I’m looking forward to having.
But today, I want to thank all the members of Congress who came together and worked to get this done. It shows that when an idea is right that we can still accomplish something on behalf of the American people and to make our government and our country stronger.
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