Should Members of Congress Own Stocks?
Should Members of Congress Own Stocks?
by Joe Wallace
The debate over whether members of Congress should own stocks has once again entered the national spotlight. Critics argue that owning stocks creates a conflict of interest, while proponents believe that personal investment in the economy fosters a deeper understanding of the issues impacting the average American. While the concern about conflicts of interest is legitimate, an outright ban on stock ownership for lawmakers might be counterproductive. Instead, implementing robust oversight and clear ethical boundaries could achieve the desired accountability without disconnecting lawmakers from the economic realities their constituents face.
The Case for Stock Ownership
Owning stocks can play a critical role in aligning a legislator’s financial interests with the economic health of the country. Stocks are a vital part of the American economy, representing businesses that drive innovation, create jobs, and contribute to the nation’s overall prosperity. When elected officials have a stake in this system, they may be more attuned to policies that promote economic growth and stability.
Moreover, banning stock ownership entirely risks insulating lawmakers from the economic realities most Americans face. Stocks are not merely a tool for the wealthy; they are the cornerstone of many middle-class retirement plans, college savings funds, and personal investments. Lawmakers who personally experience market volatility or economic growth are likely to have a better grasp of the policies needed to ensure a thriving economy.
The Risk of Conflicts of Interest
Of course, the concern about conflicts of interest is valid. Legislators have the power to influence policies and regulations that can directly impact the value of stocks they own. Without proper oversight, this could lead to unethical behavior, such as advancing legislation that benefits their financial interests at the expense of public good. To address these concerns, some have called for measures that ensure transparency and prevent lawmakers from using their positions for personal gain.
A Better Solution: Transparency and Ethical Oversight
Rather than banning stock ownership outright, Congress should adopt stricter regulations to mitigate conflicts of interest. Here are some practical steps:
Mandatory Blind Trusts: Members of Congress who own stocks should be required to place their investments in blind trusts managed by independent third parties. This would prevent them from directly managing or influencing their portfolios while in office.
Enhanced Disclosure Requirements: Lawmakers should disclose all stock transactions promptly, as corporate insiders do under Securities and Exchange Commission (SEC) regulations. This would allow the public to monitor potential conflicts of interest and hold legislators accountable.
Voting Restrictions: Legislators should recuse themselves from voting on bills or regulations that could have a direct impact on the industries in which they hold significant financial interests. Similar rules already exist for judges and other public officials and could be adapted for Congress.
Penalties for Violations: Enforcing penalties for ethical breaches would deter misconduct. Whether through fines, censures, or expulsion, lawmakers should face real consequences for unethical behavior.
The Importance of Economic Engagement
Forcing members of Congress to abstain from investing in the stock market could unintentionally create a broader disconnect between policymakers and the economy. Instead of understanding the financial concerns of their constituents, lawmakers might become detached from the economic forces that shape American life. A better approach might even involve requiring elected officials to invest a portion of their income in the market, ensuring they remain engaged in the economic realities they are tasked with managing.
Conclusion
The American public deserves lawmakers who are both engaged in the economy and held to the highest ethical standards. Outright bans on stock ownership risk throwing the baby out with the bathwater, creating a less informed and potentially more out-of-touch Congress. Instead, we should focus on transparency, ethical oversight, and accountability to strike the right balance. By implementing commonsense reforms, we can ensure that our elected officials serve the public interest while remaining connected to the economic challenges and opportunities facing the nation.
BREAKING NEWS: Officer Involved Shooting in Evansville
City and County Meetings This Week
| Central Dispatch Board | December 26, 2024 – 08:30 AM | ||
| Board of Public Works | December 26, 2024 – 01:30 PM | Agenda | |
| Loan Administration Board | December 27, 2024 – 09:30 AM |
US Environmental Protection Agency and US Department of Energy Announce $850M to Reduce Methane Pollution
US Environmental Protection Agency and US Department of Energy Announce $850M to Reduce Methane Pollution from the Oil and Gas Sector
Funding from President Biden’s Investing in America Agenda Builds on More Than 100 Cross-Government Actions That Are Sharply Reducing Methane Pollution in Support of Clean Air, Good Jobs, and Climate Action
WASHINGTON — The U.S. Environmental Protection Agency and the U.S. Department of Energy today announced approximately $850 million for 43 projects selected for negotiation that will help small oil and gas operators, Tribes, and other entities across the country to reduce, monitor, measure, and quantify methane emissions from the oil and gas sector as part of President Biden’s Investing in America agenda. The funding builds on unprecedented action across the Biden-Harris Administration to dramatically reduce methane emissions, with agencies taking more than 100 actions since 2023, including the finalization of an EPA rule that is expected to reduce methane emissions from covered oil and gas sources by 80% from 2024 to 2038 compared to projected emissions without the rule.
Today’s investment incentivizes companies’ near-term actions to conserve valuable energy resources for American consumers, improve operational efficiencies in a global market, and reduce methane emissions.
“Today, we’re continuing to build on strong standards and historic progress to cut methane pollution and protect communities across the country,” said EPA Administrator Michael S. Regan. “Together, these investments will support small businesses and drive the deployment of available and advanced technologies to reduce harmful pollution and tackle the climate crisis, while creating good-paying jobs.”
“The public health of our nation depends greatly on our ability to drastically reduce harmful pollution from America’s largest source of industrial methane – the oil and gas sector,” said U.S. Secretary of Energy Jennifer M. Granholm. “This historic investment made possible by the Inflation Reduction Act is helping energy communities and deliver long-lasting health and environmental benefits across the country. At the same time, it will support small operators’ ability to replace and upgrade old equipment, reducing emissions from marginal conventional wells, improving their supply chains to meet the growing market expectations for cleaner fuel sources.”
“In order to meet our climate goals, we have to tackle methane pollution in a serious way,” said John Podesta, Senior Advisor to the President for International Climate Policy. “Today’s awards will slash local pollution from Colorado to Kentucky while delivering for our workers, our communities, and our planet.”
The selected projects funded by the Inflation Reduction Act, the largest climate investment in history, represent a significant step in addressing climate change and improving air quality. By mitigating legacy air pollution and supporting small oil and natural gas operators, the projects will help reduce methane emissions through available and innovative technologies. Additionally, they will create partnerships to enhance emissions measurement and provide transparent data to affected communities. One Tribal consortium, 11 universities, and 20 private companies were selected for projects across the Nation to deploy and test new and existing methane mitigation technologies:
Three projects will help small operators across the country significantly reduce methane emissions from low-producing oil and natural gas operations, using commercially available technology solutions.
Thirty-one projects will accelerate the deployment of early-commercial technology solutions to reduce methane emissions from new and existing equipment.
Four projects will improve communities’ access to empirical emissions data and participation in monitoring methane emissions.
Five projects will enhance the detection and measurement of methane emissions from oil and gas operations at a regional scale.
In total, EPA and DOE are partnering to provide $1.36 billion in financial and technical assistance as part of the Inflation Reduction Act’s Methane Emissions Reduction Program. DOE’s National Energy Technology Laboratory, under the purview of DOE’s Office of Fossil Energy and Carbon Management, will manage the selected projects. Learn more about the selected projects.
Today’s selections build on the $350 million in grant funding to states that EPA and DOE announced in December 2023 to support industry efforts to voluntarily reduce emissions at low-producing wells, monitor emissions, and conduct environmental restoration at well pads. Together, these investments are a key step in implementing the Methane Emissions Reduction Program.
The selected projects support the Biden-Harris Administration’s comprehensive, whole-of-government strategy to reduce harmful methane emissions across economic sectors. These efforts are accelerating reductions in methane emissions, supporting clean air and public health, creating good jobs, and advancing President Biden’s ambitious climate goals.
About the Methane Emissions Reduction Program
Methane is a potent greenhouse gas that contributes to approximately one-third of the global warming we are experiencing today. Over 100 years, one ton of emitted methane traps 28 times as much heat in the Earth’s atmosphere as one ton of emitted carbon dioxide. The oil and natural gas sector is the largest industrial source of methane emissions in the United States. A rapid reduction in methane emissions is one of the most important and cost-effective actions the United States can take in the short term to slow the rate of rapidly rising global temperatures.
The Methane Emissions Reduction Program, created by the Inflation Reduction Act, directed EPA to take action to tackle wasteful methane emissions from the oil and gas sector. The financial and technical assistance, implemented through a partnership between EPA and DOE, work in concert both with the recently finalized Waste Emissions Charge and with Clean Air Act standards issued in March 2024 to limit methane emissions from new and existing oil and gas operations. The Methane Emissions Reduction Program also advances the Biden-Harris Administration’s Justice40 Initiative, which sets a goal that 40% of the overall benefits of certain federal climate, clean energy, and other investments benefit disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.
Combined, these actions will help position the United States as the most efficient producer of oil and natural gas in the world and ensure that the industry remains competitive in overseas markets that require a minimum level of emissions performance. Together, DOE and EPA’s methane actions will advance the adoption of cost-effective technologies, reduce wasteful practices, and yield significant economic, health, and environmental benefits, while driving continued innovation in methane detection, monitoring, and mitigation techniques.
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EPD DAILY ACTIVITY REPORT
FOOTNOTE: EPD DAILY ACTIVITY REPORT information was provided by the EPD and posted by the City-County-County Observer without opinion, bias, or editing.
VUVB adds size with signing of local middle blocker
VINCENNES, Ind. – The four-time defending Region 24 Champion Vincennes University Volleyball team continues to add size with their latest signing of six-foot two middle blocker Taryn Thuis.
“Well, we have another student who first communicated with us of their interest well over a year ago,” VUVB Head Coach Gary Sien said. “Taryn’s got State Championship experience, having played in the State Finals her sophomore year and is coming from a program that has had great success here lately. If you define local as being within an hour from Vincennes, Linton is probably in the top two or three local programs that have had major success since I’ve been here. We’re always looking to get kids from that program just because of the level of success they have had on the court.”
Thuis comes to Vincennes University after an outstanding high school career at Linton-Stockton High School in nearby Linton, Ind. and also played for the Tier 10 volleyball club team.
Thuis helped guide the Miners to a 23-11 record this past season, with a total of 209 kills, 74 blocks, 15 digs and seven set assists.
Thuis led the Miners to four Southwestern Indiana Athletic Conference Championships during her time with the Miners, with her senior class finishing with a record of 28-0 in conference games during their careers and Thuis earning 2024 All-Conference honors.
Thuis won three IHSAA Class 2A Sectional Championships at Linton and was a key contributor to the Miners team that made it to the State Championship game in 2022.
Linton set program records with 52 straight sets won and a 24 match winning streak in 2023 as well.
Thuis’ accomplishments don’t just end at the volleyball court either, with Taryn being named three times to the American Volleyball Coaches Association All-American Team Academic Award and earning Indiana High School Volleyball Coaches Association Academic All-State honors this past season.
“You can’t buy that moment of playing at Ball State University in the State Finals,” Sien added. “Once you do that, you should just about be ready for anything you are going to face after that. Having that level of experience is going to be big. At a certain point the teams on the court are going to be pretty even skill wise and it’s going to come down to the intangibles and the experience on the court.”
“Of course we like the length and height that Taryn brings,” Sien said. “As the saying goes, you can’t teach height. She’s able to play a couple of positions, either middle or right side. If she is able to play that right side, I would really like to get that going because we have openings just about everywhere on the front row at the moment. There are things, obviously, that we need to work on in terms of technique, foot work and speed but she’s got the potential to do that.”
“We’ve found that any team that plays at the highest level possible not only needs a good block in the middle but has to have a strong right side block as well,” Sien added. “If you are able to stop the other teams outside hitter, you are probably going to win. So that might be a position we see her in.”
Taryn is the daughter of Brock and Jerrie Thuis and plans to major in Legal Studies at Vincennes University.
“Taryn is the third player from Linton-Stockton over the last six years to sign with Vincennes University,” Linton High School Coach Scott Vanderkolk said. “We are beyond proud of the player that she has become over the past four seasons. Start o finish, she might be one of the most improved players we’ve had.”
“During her sophomore season, she was a key factor in our Semi-State Championship match,” Vanderkolk added. “Her improvement and growth from that point on was exponential. I believe that she will be a great addition to the VU team and has a bunch of untapped potential that Coach Sien and his staff will be able to bring out of her and continue her growth as a player and as a person.”
“She’s a great kid with a fun personality which we look forward to seeing the fantastic adult she will become beyond her college experiences,” Vanderkolk said.
“The biggest thing that we have, as well as just about every other program at VU has, it the ability to recruit Indiana kids,” Sien said. “We are looking at a number of kids from Indiana for the 2025 recruiting class and to have two signed already who are in the top 70 seniors in Indiana (Prep Dig Indiana) will help gain interest from other Indiana students.”
“We are also looking to continue recruiting students here that fit a certain mold,” Sien added. “We’re not in a hurry to recruit. There are some years that we are done earlier than others, but we’re not in a hurry to sign just anybody. We obviously want to be able to recruit the right type of students here. The students who are going to buy in to the program whole heartedly and are going to be serious about what they want to do with their lives and use the opportunity to come here to get another great opportunity afterwards.”
“One thing about Kenli and Taryn, Kenli is going into the Technology degree for Business and she’s already taken classes that will help her complete that,” Sien said. “Taryn will be the same way as she plans to study Legal Studies. She one day wants to be a prosecuting attorney. I’m just as happy about hearing their academic plans for their lives as I am for their volleyball background experience. Because when you have goals set for the future, that means you are motivated, mature and those are the types of people that we like to recruit.”
“When people objectively look at our school not just for the athletic side but the academics and realize it’s not just a ‘JuCo’ they should have a pretty good idea of how high the academics are here,” Sien added. “Then looking at the athletics side, seeing that we coach the program as a next level program, to be like at Division I program so when they one day transfer to play DI they’ve already faced it here. It shouldn’t be a hard sell if people objectively look at Vincennes University both in terms of our athletics and our academics and these two, Kenli and Taryn, have done that.”
“We look for Taryn to be a huge presence on the net in her blocking and offense, of course,” Sien said. “We see her as well as someone who will help keep things together amid the most critical moments of a match.”
Thuis is joining a Trailblazer squad coming off a 30-13 season, securing VU’s fourth straight NJCAA Division I Region 24 Championship and an 18-3 record against Region 24 opponents.
The Vincennes University Athletic Department is excited to welcome Taryn Thuis to the 2025 Trailblazer recruiting class.
Trailblazers survive physical road showdown with Malcolm X College
CHICAGO, Ill. – The Vincennes University Trailblazers hit the road Saturday afternoon for the final game of the 2024 portion of the season taking on Malcolm X College in Chicago.
The Trailblazers survived a late surge by the Hawks and were able to come away with the 96-93 victory, giving VU Hall of Fame Head Coach Todd Franklin his 400th victory at Vincennes University.
Vincennes got off to a slow start Saturday afternoon, facing a physical first half with VU shooting 18 free throws in the first 20 minutes the Blazers were able to hang close in a back and forth opening period.
VU scored the final four points of the first half to cut the deficit to three heading into the locker room break, trailing the Hawks 42-39 at halftime.
Coming out of the locker room in the second half the Trailblazers looked to increase their intensity and did with a flurry of baskets at the rim to take the lead back early in the second half at 43-42.
Vincennes would continue to build on this early lead with a 16-0 scoring run to put the Blazers ahead 69-50.
VU would continue to ride this momentum to their largest lead of the night at 81-59 before the Hawks began to chip away at the deficit.
Malcolm X College came back to life midway through the second half with 10 straight points to get back within 12.
The Hawks would cut the lead down to single digits at 89-81 as part of a larger 16-4 run to get back within four at 91-87.
Malcolm X ultimately cut the lead down to two before sophomore Michael Cooper (Minneapolis, Minn.) hit one of two free throws to get the Blazers back up by three.
Malcolm X raced down the court with just under 10 seconds remaining and were unable to convert on the last second three-point attempt as the Blazers come away with the 96-93 victory over Malcolm X College.
“This was a weak finish to a basketball game,” VU Hall of Fame Head Coach Todd Franklin said. “We didn’t want to play or be disciplined in the first half and were fortunate to be down three. We had some things that were addressed at halftime and then we decided to play and we go up by 20.”
“Then we decide to go for our own points,” Franklin added. “We decided to stop guarding and we decided to start doing silly things. I’m over here telling everyone what’s about to happen and it did and then we had very little step up at all. We throw the ball back behind the half court line. We were up 10 with a minute left and we run off shooters and give them easy kick out threes.”
“We survived the brunt of it and we had control to get the ball down the floor and center it, run the clock down and run an action, get an open shot or get fouled,” Franklin said. “We got it where we were able to maintain it through the end and we just couldn’t do it. We had our timeouts if we got into trouble and we threw the ball away.”
“Defensively we just stopped getting into any kind of stance,” Franklin added. “I was very disappointed but I saw it coming. I tried to stop it but we are going to have to find some more toughness, more discipline and some more sharpness. For the first 10 minutes of the second half we were alright. We got the win. Give Malcolm X credit, they kept fighting and playing.”
The Trailblazers were led offensively by freshman Kenaz Ochogwu (East Providence, R.I) who finished with 18 points, 16 of which coming in the second half and three rebounds.
Sophomore and 2024 NJCAA All-American Lebron Thomas (Bishopville, S.C.) also had a big second half, scoring 13 of his 15 points in the final 20 minutes, while also grabbing a pair of rebounds and dishing out two assists.
Freshman Dayton Williams (Louisville, Ky.) also finished his night with 15 points, while filling the stats sheet with a team-high eight assists, six rebounds, five blocks and three steals.
Freshman Christian Andrews (Asheville, N.C) came off the bench to add 14 points, hitting 11 of 12 free throws in the game, while also grabbing three rebounds.
Sophomore Michael Cooper was the fifth and final VU double figure scorer Saturday night, ending his game with 13 points, seven rebounds and four assists off the bench.
“I’m pretty disappointed but these guys need to be really disappointed,” Franklin said. “They have got to decide if they are going to listen and do and if they really want this bad enough to be tough enough to do what’s necessary. We started going in the right direction but it was like pulling teeth to get there.”
“We started Kenaz in the second half because no one else wanted to do it,” Franklin added. “He’s had his turns where he hasn’t wanted to do it. We told him to go out there, run to the block and they can’t guard you and he is one that did step up some. I thought we missed him a couple other times too. When we were up 20 he got to where he was sealed and guys just didn’t throw the ball in there and I’m bothered by that. But he had the advantage and handled it and I thought had a good half.”
“We did better things the first 10 minutes of the second half,” Franklin said. “We went from being down eight to up 22. But we let up. Made a couple of bad plays and bad turnovers. All of a sudden, it’s down to 14 or 16 instead of 22 or 24 and then we got everybody fouled out. I’m trying to get these guys where they said they want to go and they are going to have to decide if they want it that bad.”
The Trailblazers increase their winning streak to five Saturday and will look to add to this streak when VU returns home after the Holiday break Saturday, Jan. 4.
Michael Day sets scoring high against Cardinals
Aces fall to Ball State
MUNCIE, Ind. – Three days after scoring a career-best nine points at UT Arlington, Michael Day picked up his first double digit contest, scoring 13 on Saturday as the University of Evansville men’s basketball team fell to Ball State by a final score of 80-43 at Worthen Arena.
“We need to be better and will get better when we return from Christmas,” Purple Aces head coach David Ragland said. “It will be good to return to practice and turn things around.”
Coming off the bench, Day played just under 25 minutes and connected on five of his nine attempts while adding four boards, an assist and a block. Tanner Cuff added 11 points and a team-high 7 boards.
Ball State scored the opening 11 points of the game to take the early lead. Evansville missed its first 11 shots before Tanner Cuff got his squad on the board. He added a triple that made it a 16-5 BSU lead at the 12:39 mark. The Aces would not get any closer over the remainder of the period as the Cardinals took their largest lead of 20 points heading to intermission.
Michael Day had a solid half as he tallied seven points while banking in a 3-pointer. Cuff matched his seven tallies in the period. BSU had two players in double figures in the opening 20 minutes.
Hopes of a second-half rally were quickly erased as the Cardinals scored eight of the first nine points as they cruised to the 80-43 victory. Payton Sparks led the Cardinals with 20 points while three others reached double figures. BSU shot an even 50% on the day while holding UE to 29.1%. They also finished with a 42-33 tally on the glass.
UE returns to action on Dec. 29 as Missouri Valley Conference play continues with a 3 p.m. contest against Missouri State at the Ford Center.
Palomo sets career three-point high at Loyola Chicago
