Stop Trading on Congressional Knowledge Act of 2012

Floor Speech

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Mr. QUIGLEY. Madam Speaker, I rise today as a cosponsor and strong supporter of the STOCK Act.

The STOCK Act includes the Congressional Integrity and Pension Forfeiture Act, which Congressman Dold and I introduced last year.

The Pension Forfeiture Act ensures that former Members of Congress forfeit their pensions if they are convicted of committing a public corruption crime while serving in elected public office.

Corrupt former legislators who continue to collect pensions on the taxpayer dime are taking advantage of the American people even after they have left office.

This legislation will protect taxpayer dollars and end what could only be viewed as a reward for those who have abused the public's trust.

In my home state of Illinois, we know all too well about the costs of corruption.

Two former governors of Illinois, George Ryan and Rod Blagojevich, are serving extensive prison time for corruption.

Blagojevich, who previously represented the Illinois 5th District, continues to claim his federal pension because of a loophole in existing law.

Congressman Dold and I believe that this loophole should be closed.

I urge my colleagues to join me in supporting the STOCK Act and restoring transparency, accountability, and trust in government and public service.

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