Dupage Policy Journal

Mark Rice, a candidate for the 8th Congressional District, has publicly criticized what he sees as insider trading among members of Congress. He has voiced his support for legislation aimed at prohibiting elected representatives from stock trading, a practice that has sparked concerns about potential conflicts of interest.

“We support bills that prevent elected Congress Representatives from insider trading that have enriched many!” Rice said on Facebook. “Members of Congress should not own or trade securities, commodities, or futures.”

“Now, where is the investigation into former Speaker Nancy Pelosi? She claims she doesn’t own stock but is she going home and sharing inside information with her husband who does?”

The Ban Congressional Stock Trading Act is currently under review in the U.S. Senate’s Committee on Homeland Security and Governmental Affairs. 

This proposed legislation requires lawmakers and their immediate families to place their stock portfolios into blind trusts to avoid the misuse of insider information for personal financial gain. According to the office of U.S. Senator Jon Ossoff (D-Ga.), one of the bill's co-sponsors, violators would face fines equivalent to their entire Congressional salary. The bill has garnered support from various sectors, including good government groups and bipartisan voter majorities; 76% of voters expressed disapproval of Congressional stock trading.

However, proposed bills aiming to ban congressional stock trading have encountered hurdles and have not significantly advanced in Congress. The scrutiny over lawmakers’ stock trades persists, with some advocating for increased transparency and ethical standards in financial transactions by elected officials. Although the Stop Trading on Congressional Knowledge (STOCK) Act of 2012 forbids members of Congress from trading with nonpublic information, they can still participate in stock trading potentially based on information connected to their legislative work.

Chris Josephs, a tech entrepreneur and founder of Autopilot—an app that enables users to track politicians’ trades and automatically replicate them—has been closely observing stock trades made by members of U.S. Congress, according to ABC News. Josephs developed the app after noticing the profitable returns made by lawmakers in the stock market.

Rice, originally from Texas and a resident of Illinois for 35 years, is an executive in the energy sector and has been serving as the CEO of Energy CX for the past 15 years. Under his leadership, Energy CX has emerged as a national leader in providing energy solutions, employing a team of 70 professionals. His campaign focuses on economic growth, fiscal discipline, tax relief, immigration reform and border security. According to his campaign website, Rice is committed to representing the best interests of district residents and positions himself as a unifying force among constituents.

The 8th Congressional District is currently represented by U.S. Rep. Raja Krishnamoorthi (D-Ill). The map of the district, which includes northern Cook County, northern DuPage County and northeast Kane County, can be found on Krishnamoorthi’s website.