Representative Matt Gaetz (R-FL) offered a rare defense of Representative Alexandria Ocasio-Cortez (D-NY) after the two joined forces to cosponsor legislation to prevent stock trading among members of Congress.
In an interview with Fox News, Gaetz defended his partnership with far-left, progressive AOC.
“AOC is wrong a lot. She’d probably say the same thing about me,” Gaetz said. “But she’s not corrupt. And I will work with anyone and everyone to ensure that Congress is not so compromised.”
The two join Representatives Brian Fitzpatrick (R-PA) and Raja Krishnamoorthi (D-IL) to introduce legislation that would prohibit members of Congress, their spouses, and their dependents from participating in stock trading.
“The ability to individually trade stock erodes the public’s trust in government,” Ocasio-Cortez said in a statement Tuesday. “When Members have access to classified information, we should not be trading in the stock market on it. It’s really that simple.”
“Members of Congress are spending their time trading futures instead of securing the future of our fellow Americans,” Gaetz added. “Congress will never regain the trust of the American people. Our responsibility in Congress is to serve the people, not hedge bets on the stock market.”
The bill, titled the Bipartisan Restoring Faith in Government Act, would give members of Congress 90 days to divest their stock holdings.
Similar legislation has been introduced in the past, but all efforts have failed.
It was in 2012 when Congress passed the STOCK Act, which allows members of Congress to buy and sell stock. The Act has provisions stating lawmakers and employees must not utilize information gained through their positions to profit, but it is practically impossible to avoid such conflicts.
For example, Nancy Pelosi and her husband are frequently accused of skirting the act. Just last year, Paul Pelosi purchased $5 million in Nvidia stock mere days before the Senate voted on a bill that gave $52 million in subsidies to the US semiconductor industry.
