Good day everyone, judges, teachers, and fellow debaters.
Today, I support the motion that lawmakers should be banned from trading individual stocks while they are in office.
First, lawmakers have access to important government information that ordinary citizens may not have. Even though U.S. law already prohibits members of Congress from trading securities using material non-public information, lawmakers can still own and trade individual stocks under current rules.
Second, there is a conflict of interest. Imagine a lawmaker helping create a law that affects a company while also owning shares in that company. Even if they do nothing wrong, the public may question whether their decisions are being made for the public or for their personal investments.
Third, a ban could make the rules clearer. Instead of asking whether a particular trade was influenced by private information, lawmakers could simply be prohibited from buying or selling individual stocks. Proposals in Congress have included banning lawmakers and, in some cases, their spouses and dependent children from trading or owning covered investments.
To be clear, this does not mean lawmakers should be banned from saving or investing altogether. Some proposals allow investments that are not individual company stocks, such as diversified funds.
In conclusion, lawmakers are elected to make decisions for the public. Their financial investments should not create unnecessary conflicts of interest or even the appearance of one.
For transparency, public trust, and clear rules, I support the motion.
Thank you.