Speaker of the House Nancy Pelosi at her weekly news conference on Capitol Hill on September 22, 2022.

House Democrats just teed up a potential vote next week on a congressional stock trading ban.
Top Democrats told colleagues that the legislation will most likely include Supreme Court justices.
That inclusion — along with the short time members will have to consider the bill — may signal peril.

House Democratic leaders announced that the chamber may consider legislation to ban members of Congress from trading stocks as soon as next week.

Democratic Rep. Hakeem Jeffries of New York — the chair of the Democratic caucus — announced on the House floor on Thursday afternoon that the body “may consider legislation to reform the STOCK Act.”

House Speaker Nancy Pelosi previously indicated that a bill could come in September.

In a “Dear Colleague” letter sent on Thursday and obtained by Insider, Democratic Rep. Zoe Lofgren of California, the chair of the Committee on House Administration, released a framework entitled “Combatting Financial Conflicts of Interest and Restoring Public Faith and Trust in Government.”

“Across the entire federal government, there have been significant stories regarding financial conflicts of interest in relation to stock trading and ownership,” Lofgren wrote. “Collectively, these stories undermine the American people’s faith and trust in the integrity of public officials and our federal government.”

The framework includes much of what prominent advocates of stock-ban legislation have asked for, such as including spouses and dependent children in any potential ban. 

Other framework provisions call for:

Mandatory electronic filing of financial disclosures, as some officials submit all-but-illegible disclosures.
Requiring “more granularity” when disclosing financial trades. Currently, lawmakers are only required to disclosure the values of their trades in broad ranges, such as $100,000 to $250,000 or $1 million to $5 million.
A ban on senior government officials, …read more

Source:: Business Insider

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *