Latest news with #PreventingElectedLeadersfromOwning
The Hill
31-07-2025
- Business
- The Hill
Hawley had ‘good chat' with Trump after stock trading ban beef
Sen. Josh Hawley (R-Mo.) said he had a 'good chat' with President Trump on Wednesday, after the president railed against him for supporting a bill that would prohibit lawmakers, future presidents and vice presidents from trading stocks. Hawley, the Senate bill's sponsor, was the only Republican to join all Democrats in narrowly voting the Honest Act out of committee. In an interview Wednesday evening on Fox News, the senator was asked to respond to Trump's sharp criticism, including his description of Hawley as a 'second-tier senator.' 'Well, that's not the worst thing that's been said about me, even today, Jesse,' Hawley told host Jesse Watters. 'So, listen, I had a good chat with the president earlier this evening, and he reiterated to me he wants to see a ban on stock trading by people like Nancy Pelosi and members of Congress, which is what we passed today.' Hawley's bill was originally called the Preventing Elected Leaders from Owning Securities and Investments, or PELOSI, Act — a nod to the criticism former Speaker Nancy Pelosi (D-Calif.) has faced amid scrutiny over her husband's stock trading. The Missouri Republican dropped the seemingly contentious name in exchange for Democrats' support. In the latest iteration of the bill, he also expanded the ban to apply to presidents and vice presidents. Pelosi on Wednesday also signaled her support for Hawley's legislation. '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,' she said in a statement. Hawley made clear in the interview that the legislation would still target the kind of stock-trading that Republicans have come to associate with the Pelosis, despite a lack of evidence of insider trading. 'It is absolutely vital we put a stop to this,' the GOP senator said. 'Pelosi shouldn't just be investigated. She should be prosecuted. And we need to make what she is doing, and other members of Congress is doing, illegal.' 'You shouldn't be able to go up to Congress and get rich by trading on information that only you have and not members of the public,' he added. 'Right now, lots of members of Congress are getting by with it. We need to make the whole thing illegal.' Asked why the president called him a ' second-tier senator,' Hawley suggested Trump was misinformed about the contents of the bill. 'I think that the president, a number of people who are opposed to banning stock trading, had said to the president that he would be covered by the bill. He'd have to sell Mar-a-Lago and sell assets,' he told Watters. 'Not the case at all.' 'The president and the vice president and all their assets are totally exempted,' he added.
The Hill
30-07-2025
- Business
- The Hill
Pelosi endorses stock trading ban
Rep. Nancy Pelosi (D-Calif.), the former House Speaker, backed a Congressional stock trading ban on Wednesday after a Senate panel narrowly voted to advance the bipartisan proposal. The Honest Act, introduced by Sen. Josh Hawley (R-Mo.), was originally called the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act — a nod to the criticism Pelosi has faced for her husband's extensive trading. But, working with Democrats, Hawley dropped the contentious name and expanded the lawmaker ban to apply to future presidents and vice presidents, too. Pelosi touted the changes made to the legislation and said she 'strongly' supports it and looks forward to voting for it when it reaches the House floor. '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 said 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,' she continued. 'The HONEST Act, as amended, rightly applies its stock trading ban not only to Members of Congress, but now to the President and Vice President as well.' Hawley's bill advanced with the support of all Democrats and no other Republicans on the committee. The step comes amid renewed efforts in Congress to pass a stock-trading ban, a proposal with broad bipartisan support from the public. Trump said in April that he would 'absolutely' sign a congressional stock trading ban if it came across his desk and, on Tuesday, said he would 'take a look' at the bill, adding, 'but conceptually, I like it.' On Wednesday, however, he struck a different tune, sharply criticizing Hawley for voting with Democrats to advance the bill. Pelosi dropped her opposition to legislation banning members of Congress from trading stocks in 2022.
