A bipartisan group of lawmakers has challenged House Speaker Nancy Pelosi (D-CA) to hold a vote on a bill that would make it illegal for Congress members to hold and trade stocks while in office.
House Minority Leader Kevin McCarthy (R-CA) sent a letter to Pelosi on Monday signed by 27 members of Congress that urged a swift vote on the issue.
— New York Post (@nypost) January 24, 2022
“This common-sense, bipartisan legislation is unfortunately necessary in light of recent misconduct, and is supported by Americans across the political spectrum,” the letter said.
“Both of you have recently addressed this issue in public comments, but this glaring problem will not go away until it is fixed and Congress should not delay when we have the power to fix it,” it added.
According to Missouri Republican Sen. Josh Hawley, 67 percent of Americans support the ban.
67% of Americans support a bill, like mine, to ban stock trading by members of Congress. But Pelosi won’t bring it up for a vote. She makes too much $$ on stock trades https://t.co/inwyvPSNzc
— Josh Hawley (@HawleyMO) January 18, 2022
“Congress sold $290 million in stock last year alone and did better than the market average,” according to Dan Price.
Congress sold $290 million in stock last year alone and did better than the market average.
Ban Congress from selling stock while in office. It’s pretty simple: If you want to trade stock, find another line of work.https://t.co/WLSVg5R6fu
— Dan Price (@DanPriceSeattle) January 24, 2022
Pelosi was one of many lawmakers, both Democrat and Republican, found in violation of the current STOCK Act.
The new letter is designed to add pressure for Pelosi to move forward with the bill soon, revealing her own conflict of interest if she refuses to do so.
The latest effort is one of many concerns as Pelosi seeks to keep Democrats from losing the House in November midterm elections as a red wave threatens to take back power.