Sen. Josh Hawley (R-MO) joined Democrats Wednesday, to Advance Legislation that would Ban Members of Congress from Buying, Selling, or Owning Individual Stocks. The Proposed Measure is more Restrictive than the current STOCK Act, which requires Lawmakers and Senior Government Officials including the President and Vice-President, to Disclose their Stock Trades and Bans them from Trading on Information they Learn in the Course of their Public Service.
In an 8-7 Vote, Hawley and Senate Democrats on the U.S. Senate Committee on Homeland Security and Governmental Affairs, Voted the Legislation Out-of-Committee, with All other Republicans on the Committee Voting Against it. It's Not yet clear if the Legislation, which Hawley introduced, will receive a Floor Vote in the Republican-Controlled Senate.
"I practice what I preach," Hawley said in an Exchange with Fellow Republicans on the Panel. "I don't have individual stocks, I don't trade in stocks. I'm not a billionaire, unlike others on this committee. And what I think is, the American people are sending us a clear message."
Sen. Rick Scott (R-FL), who is now worth hundreds of millions of dollars, said He agrees Lawmakers shouldn't be Trading Stocks. But He Defended the Ability for Members of Congress to be Rich, and called Attacks on the Wealthy "Disgusting". "He made a reference to billionaires, okay?" Scott said of Hawley. "I don't know when in this country it became a negative to make money. But somehow, if you've made money, you're supposedly — I think Senator Hawley suggests — you shouldn't be serving, because you might trade stocks."
"Anybody want to be poor? I don't." Scott continued. "Right? So this idea that we're going to attack people because they make money is wrong. Is absolutely wrong. We should cherish all of our different backgrounds. ... So, I think it's disgusting what is going on here."
Some Republicans on the Senate Homeland Security Committee insisted that Blind Trusts are Sufficiently Restrictive. But Hawley said Blind Trusts are "Often Workarounds," and Members can still Influence Decisions.
The Measure, originally called the "Preventing Elected Leaders from Owning Securities and Investments" (PELOSI) Act, would Prohibit Members of Congress and their Spouses from Trading or Holding Individual Stocks, giving them 180 days to Sell their Stocks. Members would also have to Supply their House or Senate Ethics Committee with Written Certification of Compliance each year, and the Government Accountability Office (GAO) would Conduct a Compliance Audit every Two years. Hawley, as a Part of Negotiations with Democrats, Agreed to Call it the "Honest Act".
Former House Speaker Nancy Pelosi (D-CA, 11th District) Voiced Support for the Legislation in a Statement: "While I appreciate the creativity of my Republican colleagues in drafting legislative acronyms, I welcome any serious effort to raise ethical standards in public service," Pelosi said.
Hawley also said the Legislation would Ban the Next President and Vice President from Holding or Trading Individual Stocks while in Office, meaning the Legislation wouldn't affect Trump (R). A Reporter asked Trump if He Supports Hawley's Bill. "Well, I like it conceptually," Trump said. "I don't know about it. But I like it conceptually." But later in the Afternoon, Trump went off on Hawley on Truth Social, with a very different tone than He took only hours earlier, calling Him a "Second-Tier Senator."
"The Democrats, because of our tremendous ACHIEVEMENTS and SUCCESS, have been trying to 'Target' me for a long period of time, and they're using Josh Hawley, who I got elected TWICE, as a pawn to help them," Trump wrote. "I wonder why Hawley would pass a Bill that Nancy Pelosi is in absolute love with — He is playing right into the dirty hands of the Democrats. It's a great Bill for her, and her 'husband'. but so bad for our Country!"
Hawley on Thursday said He had a Visit with Trump Wednesday night, following the President's Truth Social Post. According to Hawley, Trump said that Senators told Him, Falsely, that the Bill would Force Him to Sell All of His Assets and Properties, including His Mar-a-Lago Estate.
"And so I said, 'Well, that's just false. It explicitly exempts you and all your assets,'" Hawley said on Capitol Hill Thursday. "So we walked through that and he was like oh, that was not what he had been told." Hawley said the President told Him He wants to see aBban on Stock Trading.
"He reiterated to me that he wants a stock trade ban, he supports a stock trade ban," Hawley told Reporters. Hawley introduced similar Legislation in 2023, but it Didn't make it Out-of-Committee.
Trum, in His Second Term put His Assists into a Blind Trust, run by His Son Donald Trump Jr.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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