In Six Swing States, Democrats and Republicans Agree Congress, SCOTUS, POTUS, and VP Should Not Trade Stocks

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Aug 08, 2024, 06:00 ET

COLLEGE PARK, Md., Aug. 8, 2024 /PRNewswire/ -- Overwhelming bipartisan majorities support a prohibition on stock trading by Congress, the Supreme Court, President, and Vice President in the six swing states of Arizona, Georgia, Michigan, Nevada, Pennsylvania, and Wisconsin, as well as nationally, a new public consultation survey by the Program for Public Consultation (PPC) finds. [More Detailed Report]

This survey is the second in a series – the Swing Six Issue Surveys – being conducted in the run-up to the November election in six swing states on major policies. Unlike traditional polls, respondents in a public consultation survey go through an online "policymaking simulation" in which they are provided briefings and arguments for and against each policy. Content is reviewed by experts on different sides to ensure accuracy and balance.

Legislation to prohibit any stock trading in individual companies among Members of Congress was first introduced in 2022, and has been reintroduced every year since, as has legislation prohibiting stock trading by Supreme Court Justices, the President, and Vice President. Under the proposals, officials would still be able to buy and sell shares in large portfolios, like mutual funds, and retain their existing stocks if put in an independently managed fund, known as a blind trust. The ban would also apply to live-in family members.

Prohibiting Members of Congress and their live-in family from trading individual stocks is favored by 71% to 76% in the swing states, including 68% to 76% of Republicans and 76% to 84% of Democrats, as well as 72% nationally.

Prohibiting the President, Vice President, Supreme Court Justices, and their live-in family, from trading individual stocks is favored by 72% to 77% in the swing states, including 68% to 74% of Republicans and 77% to 85% of Democrats, as well as 74% nationally.

Director of the Program for Public Consultation at the University of Maryland's Program for Public Consultation, Steven Kull, noted, "Americans of all political stripes have great concerns about potential conflicts of interest and self-serving decisions on the part of policymakers."

Presented pro and con arguments, the most popular argument was that there are, "too many potential conflicts of interest when Members of Congress can hold and trade stocks in individual companies," with 83% to 88% finding it convincing in the swing states.

The con arguments did not do as well, with just 42% to 51% in the swing states finding convincing the argument that this new law is not necessary, since "we already have laws against insider trading, and Members of Congress can be investigated and charged just like anyone else."

About the Survey
The survey was fielded July 10-19, 2024 to a representative non-probability sample of 4,647 adults by the Program for Public Consultation at the University of Maryland's School of Public Policy, including approximately 600 adults in each state of Arizona, Georgia, Michigan, Nevada, Pennsylvania, and Wisconsin, and 1,195 nationally. Samples were obtained from multiple online non-probability panels, including Cint, Dynata, and Prodege. Sample collection and quality control was managed by QuantifyAI under the direction of the Program for Public Consultation. Samples were pre-stratified and weighted by age, race, ethnicity, gender, education, income, metro/non-metro, marital status, home ownership, and partisan affiliation to match the general adult population. The survey was offered in both English and Spanish. The confidence interval for the national sample is +/-3.2%, and for the state samples it ranges from +/-4.4% to 4.6%.

About UMD's Program for Public Consultation
The Program for Public Consultation (PPC) at the University of Maryland's School of Public Policy, develops and conducts public consultation surveys, seeking to improve democratic governance by consulting representative samples of citizens on key public policy issues. It shares its findings with officials in government, the media, other academics, and the general public.

CONTACT: Ana Cobian, [email protected]

SOURCE Program for Public Consultation