Rep. Nancy Pelosi (D-Calif.), the previous Home Speaker, backed a congressional stock trading ban on Wednesday after a Senate panel narrowly voted to advance the bipartisan proposal.
The Honest Act, launched by Sen. Josh Hawley (R-Mo.), was initially known 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 effectively.
Pelosi touted the adjustments made to the laws and stated she “strongly” helps it and appears ahead to voting for it when it reaches the Home ground.
“If laws is superior to assist restore belief in authorities and be certain that these in energy are held to the best moral requirements, then I’m proud to assist it — it doesn’t matter what they determine to call it,” Pelosi stated in a press release.
“Whereas I recognize the creativity of my Republican colleagues in drafting legislative acronyms, I welcome any critical 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 effectively.”
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 cross a stock-trading ban, a proposal with broad bipartisan support from the general public.
President Trump said in April that he would “completely” signal a congressional inventory buying and selling ban if it got here throughout his desk and, on Tuesday, he stated he would “have a look” on the invoice, including, “however conceptually, I prefer it.”
On Wednesday, nevertheless, he struck a different 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.