Congressman Vindman Voluntarily Sold His Own Individual Stock Holdings Before Being Sworn into Congress in 2024
WASHINGTON, D.C. – Today, Congressman Eugene Vindman (Va.-07) introduced the Sell Your Stocks or Step Down Act, legislation that would require Members of Congress, Cabinet officials, Federal judges, and other senior executive branch officials to sell their individual stock holdings before taking office and then pay their fair share in taxes.
Vindman voluntarily sold his own individual stock holdings before being sworn into Congress. He introduced the legislation after hearing from more than 900 constituents in a district-wide survey, who overwhelmingly said they support requiring elected and appointed officials to divest from individual stocks before serving in public office.
“I have one message for my colleagues in Congress and leaders across government: sell your stocks or step down. The American people deserve to know that the decisions their leaders make are based on what’s best for the country, not what’s best for their stock portfolio,” said Vindman. “It’s past time we take on corruption head on. I sold my individual stocks before taking office. I paid capital gains tax. If you’re unwilling to put the public interest ahead of personal profit, you shouldn’t be serving in public office.”
The Sell Your Stocks or Step Down Act would require covered officials to divest from individual stocks before assuming office. It also ends a tax break on officials that shields them from paying capital gains taxes on these sales like ordinary Americans. The legislation is designed to strengthen ethics safeguards, reduce the appearance of self-dealing, and help restore public confidence in government by ensuring public officials cannot personally profit from decisions made while in office.
BACKGROUND
Vindman has made tackling government corruption a cornerstone of his work in Congress.
Earlier this Congress, he introduced legislation to ban Members of Congress from trading stocks and using prediction markets while in office and legislation to prohibit former Members of Congress from lobbying their former colleagues after leaving public service.
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