Gallego calls STOCK Act a step forward

Texas State Representative and Congressional candidate Pete Gallego today praised efforts to ban members of Congress from making financial transactions based on inside information, calling it a “real step forward”.

The U.S. House of Representatives voted Thursday to pass the STOCK Act, which bans members of the House of Representatives and Senate from making financial transactions based on inside, non-public information. The bill passed the U.S. Senate last week with an overwhelmingly bi-partisan vote.

Rep. Canseco supported the weakened House bill after weeks of calling the bill “completely unworkable” and urging members to support an internal House rule change rather than a real law.

Rep. Gallego said, “Members of Congress should be held accountable to the same laws as everyone else – not special rules with special breaks. This step moves us closer to banning insider trading, it’s the right thing to do.”

Since he was first elected in 1990, Pete Gallego has earned a reputation for reaching across the aisle to solve problems. Pete has worked with both Democrats and Republicans to safeguard funding for priorities that make people’s lives’ better – whether by building schools and roads, protecting water quality or creating jobs.

The son of a World War II veteran and state employee, Pete was born in the West Texas town of Alpine. He attended local public schools and worked in his family’s restaurant where he learned the value of a hard day’s work.

Pete graduated from his hometown college, Sul Ross State University, in two years while balancing three jobs. After graduating, Pete went on to earn a degree from The University of Texas School of Law. He became an assistant attorney general before returning home to serve as a felony prosecutor.

At just 28 years old, Pete’s neighbors elected him State Representative, and sent him to Austin to fight for them. During his career in Austin, Pete led the 43 members of the Mexican American Legislative Caucus and chaired numerous legislative committees.

Pete crafted and helped passed legislation investing billions of dollars in public schools.

He’s worked to secure our border, reform our criminal justice system and support Texas veterans.