Rep. Nancy Pelosi (D-Calif.), the previous Home Speaker, backed a congressional inventory buying and selling ban on Wednesday after a Senate panel narrowly voted to advance the bipartisan proposal.
The Trustworthy Act, launched by Sen. Josh Hawley (R-Mo.), was initially referred to as the Stopping Elected Leaders from Proudly owning Securities and Investments, or PELOSI, Act — a nod to the criticism Pelosi has confronted for her husband’s in depth buying and selling.
However, working with Democrats, Hawley dropped the contentious identify and expanded the lawmaker ban to use to future presidents and vice presidents as nicely.
Pelosi touted the modifications made to the laws and mentioned she “strongly” helps it and appears ahead to voting for it when it reaches the Home flooring.
“If legislation is advanced to help restore trust in government and ensure that those in power are held to the highest ethical standards, then I am proud to support it — no matter what they decide to name it,” Pelosi mentioned in a press release.
“Whereas I recognize the creativity of my Republican colleagues in drafting legislative acronyms, I welcome any severe effort to boost moral requirements in public service,” she continued. “The HONEST Act, as amended, rightly applies its inventory buying and selling ban not solely to Members of Congress, however now to the President and Vice President as nicely.”
Hawley’s invoice superior with the assist of all Democrats and no different Republicans on the committee.
The step comes amid renewed efforts in Congress to move a stock-trading ban, a proposal with broad bipartisan assist from the general public.
President Trump mentioned in April that he would “absolutely” signal a congressional inventory buying and selling ban if it got here throughout his desk and, on Tuesday, he mentioned he would “take a look” on the invoice, including, “but conceptually, I like it.”
On Wednesday, nevertheless, he struck a special tune, sharply criticizing Hawley for voting with Democrats to advance the invoice.
Pelosi dropped her opposition to laws banning members of Congress from buying and selling shares in 2022.
