Newt's World Episode 959: Congressman Bryan Steil on Stop Insider Trading Act
Mar 26, 2026
Bryan Steil, U.S. Representative from Wisconsin and House Administration chair focused on government reform. He breaks down the Stop Insider Trading Act banning congressional stock trades, discusses voter ID and citizenship checks in the Save America Act, and explains proposals to withhold member pay during shutdowns. Short, policy-driven conversation on transparency, election integrity, and accountability.
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Why Outright Stock Bans Rebuild Trust
- Banning members from trading individual stocks restores public trust by removing the appearance of impropriety.
- Bryan Steil points to 86% public support and notes insider trading is hard to prove, so prohibition is simpler and clearer.
Penalties Must Scale To Be Effective
- Strong penalties must scale with trade size to deter misconduct; the Stock Act's $200 fine is ineffective for large trades.
- Steil proposes the greater of $2,000 or 10% of the transaction plus stripping profits to create real teeth.
How The Stop Insider Trading Act Works
- Do ban new acquisitions, require public seven-day advance notice for planned sales, and impose significant penalties to prevent profit from insider information.
- Steil's bill lets preexisting holdings be sold only after public notice posted on the clerk's website.