Group spends $9 million on ads praising GOP vote on stock trading bill

Choose Freedom Inc. has invested $9 million into television commercials across nearly 20 congressional districts, according to the tracking firm AdImpact. The ads commend Republican representatives for voting to stop insider trading while criticizing Democrats who opposed the measure.

The House passed the Stop Insider Trading Act in July by a vote of 232 to 198. The legislation prohibits members of Congress and their families from purchasing individual stocks, though it allows for the retention of existing holdings and investments in mutual funds.

Democrats argue the bill is flawed because it applies only to the legislative branch and does not restrict stock trading for the president or cabinet members. The bill also included a provision requiring photo identification for federal elections, which drew opposition from Democrats. Only 13 Democrats voted for the final package.

Rep. Joe Morelle of New York, the ranking Democrat on the House Administration Committee, called the advertising campaign "reprehensible" in an interview. He said the bill was designed as a political trap and criticized the ads for praising lawmakers with histories of frequent stock trading.

One specific ad targets Rep. Rob Bresnahan, a Republican from Pennsylvania, calling him a champion against corruption. Bresnahan has previously faced scrutiny regarding his stock trades but has denied personal involvement in managing his portfolio. His campaign noted that Morelle refused to vote for the bill.

Rep. Debbie Dingell of Michigan said Democrats would pass a broader ban that includes the administration if they regain the House majority. Meanwhile, the National Republican Congressional Committee defended the ads, stating that every Republican voted to end insider trading while Democrats protected their own financial interests.

The campaign also targets vulnerable Democratic incumbents like Rep. Gabe Vasquez of New Mexico for voting against the bill. Vasquez’s campaign manager stated the congressman has never owned or traded individual stocks and supports a ban.