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Democrats bid farewell to leaders over congressional stock trading

The bills receive broad support – Ms Spanberger’s 42 co-sponsors BELIEVE in the Act of Congress including Representatives Matt Gaetz of Florida, Scott Perry of Pennsylvania and Andy Harris of Maryland, all steadfast in their party’s Trump wing – and if anything, they are bringing Ms. attention.

“You have the speaker of the House trading, and her husband makes millions and millions of dollars a year,” Mr. Hawley said.

Democrats are also eager to contrast their views with Ms. Pelosi’s. They said her refusal in December to consider a ban on stock trading – “We’re a free market economy,” she said when asked about the push – made the issue a problem. into a celèbre cause.

“The person said, I don’t want to call her out directly, but a few members have been here for decades, decades. They come at this point from a different time and a different point of view,” said Ms. Stevens, who found herself almost certainly facing another Democrat, Andy Levin, in the primaries. upcoming House of Representatives in Michigan. Both signed the letter last week demanding action on the trading ban.

Democratic leaders remain adamant. They argued that once Congress began trying to keep its own members away from investments, it was difficult to draw the line between what was allowed and what was not. If stock ownership is prohibited because it could create a conflict of law, does student loan debt make a member unfit to request a loan reduction? Does owning real estate provide a personal benefit that is inconsistent with land use or environmental policy?

Mr. Roy thinks there are complications, but he says a straight line has to be drawn.

“If you are talking about dirt, are you talking about your family farm or are you involved in thousands of real estate transactions?” he asks. “Are you buying, selling and developing commercial real estate transactions while in Parliament? There are limits to what we have to do. “

Drew Hammill, Pelosi’s deputy chief of staff, said that the speaker asked Representative Zoe Lofgren, Democrat of California and chair of the House Management Committee, to consider a range of proposals for adjustments. legislators’ trading practices, including a ban on stock ownership. Ms. Lofgren is also considering increasing penalties for “unacceptable non-compliance” with the Stop Trading on Congressional Knowledge Act (STOCK), a 2012 law that regulates traders. Legislatures must disclose their stock trades, a step Mr. Pelosi supports.

https://www.nytimes.com/2022/02/02/us/politics/congress-stocks.html Democrats bid farewell to leaders over congressional stock trading

Fry Electronics Team

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