EXCLUSIVE: While the House successfully moved to rein in lawmakers’ stock trading, a California Republican is targeting what she says is another avenue for congressional self-enrichment, citing members whose wealth has multiplied over the years.
Rep. Young Kim’s Stop Congressional Self-Enrichment Resolution comes after a successful GOP-led effort in July that imposed restrictions on stock purchases and requires several days’ notice before stock sales. It also comes as Americans across the political spectrum remain frustrated by many lawmakers’ rapidly growing wealth while in public office.
“It could be earmarking a nonprofit organization where a members spouse sits on the board of directors or board of trustees, so it will indirectly benefit the family. Or it could earmark for a park at, let’s say apartment building that a member or member’s spouse or members children owns,” Kim told Fox News Digital.
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“And with the federal funds that the member brings and build the park nearby or community center nearby, it could increase the property value and therefore indirectly benefiting the member and their family members. Maybe asking to build a road up to rural land the member owns.”
Her new push would cover all material financial interests â direct or indirect â that benefit people beyond the lawmaker themselves.
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Current House rules require members requesting an earmark to certify that neither they nor their spouses have a financial interest in the recipient. Kim’s bill would extend that requirement to immediate family members and indirect financial interests, such as nearby property values.
“The days of members thinking that I can use the community project funding request or bringing the earmarks for my district and get filthy rich off of it — those days are numbered.”
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“This is a good time because we see Americans are sick and tired of watching politicians getting filthy rich while average Americans are worrying about making ends meet and stretch every dollar that they earn.”
Citing the “Bridge to Nowhere” project in Alaska’s Inside Passage in the early 2000s as a symbol of concerns over earmarks, Kim said the ensuing decade-long moratorium curbed abuse.
Kim said safeguards put in place after the moratorium have helped, but argued members are still able to provide themselves with indirect benefits. She reiterated that she is not targeting any individuals.
While there are now apps out there like the “Pelosi Stock Tracker” and others that let retail investors see which stocks are being bought or sold by which members, Kim said her effort does not target any one colleague.
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“And, this is not in any way discouraging members to fight fo
