Latest news with #NoCorruptioninGovernmentAct
Yahoo
14-05-2025
- Business
- Yahoo
House Speaker Mike Johnson supports a stock trading ban for US lawmakers
House Speaker Mike Johnson said Wednesday he is supportive of ongoing efforts on Capitol Hill to ban lawmakers from trading stocks, even as he expressed sympathy for opponents of the idea and didn't say whether he will bring up the effort for a House vote. "You want me to tell you my honest opinion on that?" he said to reporters Wednesday. "I'm in favor of it because I don't think we should have any appearance of impropriety here." But Johnson quickly offered caveats in a nuanced answer, noting, "I understand people that have misgivings about that," while not saying whether a vote would be in the offing. "We'll see where it lands," he concluded. The comments come as some lawmakers again push efforts to ban the controversial practice of congressional stock trading, with other lawmakers again under scrutiny for trading during recent market volatility. Johnson had previously avoided taking a position on the issue, with his new comments coming as varied efforts to enact a ban gain bipartisan support. One bill, called the TRUST in Congress Act, would require lawmakers and their spouses and children to place certain assets into blind trusts. The bill currently has 72 co-sponsors, with 60 Democrats and 12 Republicans supportive. But supporters have been reintroducing this bill for years, only to see previous efforts fail to secure a vote. Another newer effort this year getting attention is called the No Corruption in Government Act, which would prohibit insider trading and also address congressional lobbying. Johnson didn't express support for any bill in particular, but said on Wednesday, "On balance, my view is we probably should do that because I think it's been abused in the past and I think sadly a few bad actors discolored it for everyone." Any new effort would build upon the 2012 STOCK Act, which made clear that insider trading by members of Congress is banned and required trades to be reported. The act has been criticized for not penalizing lawmakers who don't comply with the reporting requirements. Another prominent supporter of the effort is President Trump, who has repeatedly said he would sign a ban if it reaches his desk. He most recently weighed in during an interview with Time last month. "I would be okay with it," he said. "If they send that to me, I would do it." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices
Yahoo
14-05-2025
- Business
- Yahoo
House Speaker Mike Johnson supports a stock trading ban for US lawmakers
House Speaker Mike Johnson said Wednesday he is supportive of ongoing efforts on Capitol Hill to ban lawmakers from trading stocks, even as he expressed sympathy for opponents of the idea and didn't say whether he will bring up the effort for a House vote. "You want me to tell you my honest opinion on that?" he said to reporters Wednesday. "I'm in favor of it because I don't think we should have any appearance of impropriety here." But Johnson quickly offered caveats in a nuanced answer, noting, "I understand people that have misgivings about that," while not saying whether a vote would be in the offing. "We'll see where it lands," he concluded. The comments come as some lawmakers again push efforts to ban the controversial practice of congressional stock trading, with other lawmakers again under scrutiny for trading during recent market volatility. Johnson had previously avoided taking a position on the issue, with his new comments coming as varied efforts to enact a ban gain bipartisan support. One bill, called the TRUST in Congress Act, would require lawmakers and their spouses and children to place certain assets into blind trusts. The bill currently has 72 co-sponsors, with 60 Democrats and 12 Republicans supportive. But supporters have been reintroducing this bill for years, only to see previous efforts fail to secure a vote. Another newer effort this year getting attention is called the No Corruption in Government Act, which would prohibit insider trading and also address congressional lobbying. Johnson didn't express support for any bill in particular, but said on Wednesday, "On balance, my view is we probably should do that because I think it's been abused in the past and I think sadly a few bad actors discolored it for everyone." Any new effort would build upon the 2012 STOCK Act, which made clear that insider trading by members of Congress is banned and required trades to be reported. The act has been criticized for not penalizing lawmakers who don't comply with the reporting requirements. Another prominent supporter of the effort is President Trump, who has repeatedly said he would sign a ban if it reaches his desk. He most recently weighed in during an interview with Time last month. "I would be okay with it," he said. "If they send that to me, I would do it." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
House Speaker Mike Johnson supports a stock trading ban for US lawmakers
House Speaker Mike Johnson said Wednesday he is supportive of ongoing efforts on Capitol Hill to ban lawmakers from trading stocks, even as he expressed sympathy for opponents of the idea and didn't say whether he will bring up the effort for a House vote. "You want me to tell you my honest opinion on that?" he said to reporters Wednesday. "I'm in favor of it because I don't think we should have any appearance of impropriety here." But Johnson quickly offered caveats in a nuanced answer, noting, "I understand people that have misgivings about that," while not saying whether a vote would be in the offing. "We'll see where it lands," he concluded. The comments come as some lawmakers again push efforts to ban the controversial practice of congressional stock trading, with other lawmakers again under scrutiny for trading during recent market volatility. Johnson had previously avoided taking a position on the issue, with his new comments coming as varied efforts to enact a ban gain bipartisan support. One bill, called the TRUST in Congress Act, would require lawmakers and their spouses and children to place certain assets into blind trusts. The bill currently has 72 co-sponsors, with 60 Democrats and 12 Republicans supportive. But supporters have been reintroducing this bill for years, only to see previous efforts fail to secure a vote. Another newer effort this year getting attention is called the No Corruption in Government Act, which would prohibit insider trading and also address congressional lobbying. Johnson didn't express support for any bill in particular, but said on Wednesday, "On balance, my view is we probably should do that because I think it's been abused in the past and I think sadly a few bad actors discolored it for everyone." Any new effort would build upon the 2012 STOCK Act, which made clear that insider trading by members of Congress is banned and required trades to be reported. The act has been criticized for not penalizing lawmakers who don't comply with the reporting requirements. Another prominent supporter of the effort is President Trump, who has repeatedly said he would sign a ban if it reaches his desk. He most recently weighed in during an interview with Time last month. "I would be okay with it," he said. "If they send that to me, I would do it." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-05-2025
- Business
- Yahoo
Magaziner gives update on congressional stock trading ban bill
EAST PROVIDENCE, R.I. (WPRI) — Rep. Seth Magaziner provided an update on his push for a bill that would prevent members of Congress from trading stocks. Magaziner told 12 News Friday he recently started meeting with other lawmakers who have proposed similar legislation to negotiate a 'single, consensus bill' they can all get behind and work on passing. BACKGROUND: Magaziner, Roy push to ban congressional stock trading He said opponents of the ban argue that the existence of multiple versions of the bill mean it's an idea that's not ready for primetime. Magaziner also believes the ban is gaining momentum after House Minority Leader Hakeem Jeffries (D-NY) and President Donald Trump came out in favor of it. 'The issue started getting a lot of favorable media attention again,' he explained. 'I think all of us recognized that some momentum was building and that we needed to capitalize on it.' Alongside Magaziner's bill, his office shared four other similar pieces of legislation that were introduced this session: No Corruption in Government Act, Stop Politicians Profiting from War Act of 2025, End Congressional Stock Trading Act and Bipartisan Restoring Faith in Government Act. The group of lawmakers Magaziner is meeting with are Rep. Chip Roy (R-TX), who he cosponsored one of the bills with, Rep. Brian Fitzpatrick (R-PA), Rep. Tim Burchett (R-TN), Rep. Pramila Jayapal (D-WA), Rep. Alexandria Ocasio-Cortez (D-NY) and Rep. Joe Morelle (D-NY). Among the differences being hashed out are enforcement and what would happen if someone owned stocks before getting elected. As for enforcement, Magaziner said he favors a monetary fine as opposed to jail time for members who don't abide by the ban. Magaziner anticipates his chamber's new bill being introduced and publicized 'in a matter of weeks, not months.' Despite being the lead sponsor of his bill for a ban, Magaziner expects a Republican will now take that responsibility for this new legislation since the Republicans currently have a majority in the House. 'That's just part of life in the minority and thems the brakes,' Magaziner explained. 'But I care more about getting things done than I do about having my name be the top name on the bill.' Over in the Senate, a ban was previously introduced by U.S. Sens. Jon Ossoff (D-GA) and Josh Hawley (R-MO), among others. NEXT: Crisis in the classroom: Lawmakers push for more mental health resources in schools Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
