Latest news with #TRUSTAct
Yahoo
4 days ago
- Business
- Yahoo
He said he'd ban stock trading in Congress. He's made more than 530 trades since taking office.
On the campaign trail, Rep. Rob Bresnahan said he'd push to ban stock trading in Congress. He's traded more than 530 times in office. 40 of those trades were made after he said he'd set up a blind trust. Rep. Rob Bresnahan said he would ban stock trading when he got to Congress. Since the Pennsylvania Republican took office in January, he's traded securities at least 530 times. Forty of those trades, worth at least $166,000, were made after May 6, when he announced that he would move his assets into a blind trust. Business Insider reviewed 11 periodic transaction reports that Bresnahan has filed since January. His investments run the gamut, from tech companies like Meta and Alphabet to energy companies like ExxonMobil and ConocoPhillips. Like fellow Republican Rep. Marjorie Taylor Greene of Georgia, Bresnahan has said that he does not make those trades himself and that his portfolio is managed by an outside third party. Bresnahan has apparently continued to allow that advisor to make trades on his behalf, even after his trades began to draw significant media scrutiny two months ago. "As we've said repeatedly, Rob has no involvement in the stock trades made by his financial advisor," Hannah Pope, a spokeswoman for Bresnahan, told BI. "He's in the process of finalizing a blind trust which requires sign-off from the House Ethics Committee." In March 2021, Bresnahan penned an op-ed in a local paper stating that if elected, he would co-sponsor legislation to ban stock trading in Congress. "Some of the most prolific traders in the country serve in Congress," Bresnahan wrote. "Whether or not they have done something wrong, the idea that we can buy and sell stocks while voting on legislation that will have a direct impact on these companies is wrong and needs to come to an end immediately." The Pennsylvania Republican has emerged as one of the House's most prolific traders. After the New York Times first reported on Bresnahan's trades, his office said he would introduce his own bill instead. One month later, he did, introducing the "TRUST Act," a name that sounded similar to an existing stock ban bill, the TRUST in Congress Act. "I think his staff should learn how to Google," Rep. Chip Roy, the GOP cosponsor of that bill, told NOTUS. At the same time, Bresnahan said he would establish a blind trust. "I have never traded my own stocks, but I want to guarantee accountability to my constituents," the congressman said in a May 6 press release. "That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone." While the details of each blind trust is different, they generally allow individuals to retain the value of their assets, but they relinquish control over investment decisions to a third party. They also do not receive information about the contents of the trust until it is terminated. Bresnahan isn't the only lawmaker who continues to trade stocks despite backing a stock trading ban. He's also not the only lawmaker who has continued to trade despite announcing plans for a blind trust. In February 2022, Democratic Rep. Josh Gottheimer of New Jersey announced that he would set up a blind trust. Three years later, that still hasn't happened, and spokesman Tony Wen told BI on Monday that the congressman is still "awaiting approval" from the relevant ethics officials in Congress. "In the meantime, he has taken the extra step of setting up an independent trust," Wen said. Additionally, Republican Rep. Tom Kean of New Jersey announced just before he took office in January 2023 that he would be placing his assets into a blind trust. The congressman still has not disclosed doing so, and his office did not respond to a request for comment. Read the original article on Business Insider 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
4 days ago
- Business
- Yahoo
He said he'd ban stock trading in Congress. He's made more than 530 trades since taking office.
On the campaign trail, Rep. Rob Bresnahan said he'd push to ban stock trading in Congress. He's traded more than 530 times in office. 40 of those trades were made after he said he'd set up a blind trust. Rep. Rob Bresnahan said he would ban stock trading when he got to Congress. Since the Pennsylvania Republican took office in January, he's traded securities at least 530 times. Forty of those trades, worth at least $166,000, were made after May 6, when he announced that he would move his assets into a blind trust. Business Insider reviewed 11 periodic transaction reports that Bresnahan has filed since January. His investments run the gamut, from tech companies like Meta and Alphabet to energy companies like ExxonMobil and ConocoPhillips. Like fellow Republican Rep. Marjorie Taylor Greene of Georgia, Bresnahan has said that he does not make those trades himself and that his portfolio is managed by an outside third party. Bresnahan has apparently continued to allow that advisor to make trades on his behalf, even after his trades began to draw significant media scrutiny two months ago. "As we've said repeatedly, Rob has no involvement in the stock trades made by his financial advisor," Hannah Pope, a spokeswoman for Bresnahan, told BI. "He's in the process of finalizing a blind trust which requires sign-off from the House Ethics Committee." In March 2021, Bresnahan penned an op-ed in a local paper stating that if elected, he would co-sponsor legislation to ban stock trading in Congress. "Some of the most prolific traders in the country serve in Congress," Bresnahan wrote. "Whether or not they have done something wrong, the idea that we can buy and sell stocks while voting on legislation that will have a direct impact on these companies is wrong and needs to come to an end immediately." The Pennsylvania Republican has emerged as one of the House's most prolific traders. After the New York Times first reported on Bresnahan's trades, his office said he would introduce his own bill instead. One month later, he did, introducing the "TRUST Act," a name that sounded similar to an existing stock ban bill, the TRUST in Congress Act. "I think his staff should learn how to Google," Rep. Chip Roy, the GOP cosponsor of that bill, told NOTUS. At the same time, Bresnahan said he would establish a blind trust. "I have never traded my own stocks, but I want to guarantee accountability to my constituents," the congressman said in a May 6 press release. "That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone." While the details of each blind trust is different, they generally allow individuals to retain the value of their assets, but they relinquish control over investment decisions to a third party. They also do not receive information about the contents of the trust until it is terminated. Bresnahan isn't the only lawmaker who continues to trade stocks despite backing a stock trading ban. He's also not the only lawmaker who has continued to trade despite announcing plans for a blind trust. In February 2022, Democratic Rep. Josh Gottheimer of New Jersey announced that he would set up a blind trust. Three years later, that still hasn't happened, and spokesman Tony Wen told BI on Monday that the congressman is still "awaiting approval" from the relevant ethics officials in Congress. "In the meantime, he has taken the extra step of setting up an independent trust," Wen said. Additionally, Republican Rep. Tom Kean of New Jersey announced just before he took office in January 2023 that he would be placing his assets into a blind trust. The congressman still has not disclosed doing so, and his office did not respond to a request for comment. Read the original article on Business Insider
Business Insider
4 days ago
- Business
- Business Insider
He said he'd ban stock trading in Congress. He's made more than 530 trades since taking office.
Rep. Rob Bresnahan said he would ban stock trading when he got to Congress. Since the Pennsylvania Republican took office in January, he's traded securities at least 530 times. Forty of those trades, worth at least $166,000, were made after May 6, when he announced that he would move his assets into a blind trust. Business Insider reviewed 11 periodic transaction reports that Bresnahan has filed since January. His investments run the gamut, from tech companies like Meta and Alphabet to energy companies like ExxonMobil and ConocoPhillips. Like fellow Republican Rep. Marjorie Taylor Greene of Georgia, Bresnahan has said that he does not make those trades himself and that his portfolio is managed by an outside third party. Bresnahan has apparently continued to allow that advisor to make trades on his behalf, even after his trades began to draw significant media scrutiny two months ago. "As we've said repeatedly, Rob has no involvement in the stock trades made by his financial advisor," Hannah Pope, a spokeswoman for Bresnahan, told BI. "He's in the process of finalizing a blind trust which requires sign-off from the House Ethics Committee." In March 2021, Bresnahan penned an op-ed in a local paper stating that if elected, he would co-sponsor legislation to ban stock trading in Congress. "Some of the most prolific traders in the country serve in Congress," Bresnahan wrote. "Whether or not they have done something wrong, the idea that we can buy and sell stocks while voting on legislation that will have a direct impact on these companies is wrong and needs to come to an end immediately." The Pennsylvania Republican has emerged as one of the House's most prolific traders. After the New York Times first reported on Bresnahan's trades, his office said he would introduce his own bill instead. One month later, he did, introducing the "TRUST Act," a name that sounded similar to an existing stock ban bill, the TRUST in Congress Act. "I think his staff should learn how to Google," Rep. Chip Roy, the GOP cosponsor of that bill, told NOTUS. At the same time, Bresnahan said he would establish a blind trust. "I have never traded my own stocks, but I want to guarantee accountability to my constituents," the congressman said in a May 6 press release. "That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone." While the details of each blind trust is different, they generally allow individuals to retain the value of their assets, but they relinquish control over investment decisions to a third party. They also do not receive information about the contents of the trust until it is terminated. Bresnahan isn't the only lawmaker who continues to trade stocks despite backing a stock trading ban. He's also not the only lawmaker who has continued to trade despite announcing plans for a blind trust. In February 2022, Democratic Rep. Josh Gottheimer of New Jersey announced that he would set up a blind trust. Three years later, that still hasn't happened, and spokesman Tony Wen told BI on Monday that the congressman is still "awaiting approval" from the relevant ethics officials in Congress. "In the meantime, he has taken the extra step of setting up an independent trust," Wen said. Additionally, Republican Rep. Tom Kean of New Jersey announced just before he took office in January 2023 that he would be placing his assets into a blind trust. The congressman still has not disclosed doing so, and his office did not respond to a request for comment.
Chicago Tribune
19-05-2025
- Politics
- Chicago Tribune
Karina Ayala-Bermejo and Raul Raymundo: Stop the political theater and fix the broken immigration system
The strength of our nation is in the diversity of its people. The greatness of this nation will further be elevated by fixing the immigration system that has been broken for too long. President Donald Trump's latest executive order threatening to withhold funds from sanctuary cities and states while escalating the rhetoric on deportations without due process is simply un-American. It is time for this nation to be reminded of the contributions of immigrants from the early European settlers to the newest waves of immigrants making powerful contributions to this country. Congress needs to accept that immigrants today build our cities, spend money in our economies and pay taxes into our public coffers — but don't even receive all the benefits for doing so, making them givers rather than takers or criminals. It's undeniable immigrants, regardless of their immigration status, are part of our economy and social fabric. Often, they're the anchors of our family values. Our president is bragging about how he 'alone' has fixed the border crisis. We took him at his word, and now he needs to fix the broken immigration system and stop weaponizing immigrants to stir up divisions. Threatening to wipe out federal funding for welcoming states or cities is nothing more than overreach from the federal government. Take for example Illinois, led by Gov. JB Pritzker, one of the governors set to testify June 12 in front of Congress. This will be yet another trip on the merry-go-round of political theater in Washington. Just over two months ago, Chicago Mayor Brandon Johnson appeared on a panel of mayors before the House of Representatives and boldly defended a sanctuary policy that has been on the books for decades. This hearing only resulted in both sides seeking a viral moment and scoring political points. The reality is Illinois' welcoming status defines the character of our state: bipartisan and deeply rooted in an understanding of how to keep our people safe and our economy strong. Pritzker is protecting the 40-year legacy of sanctuary status in Illinois that started in 1985 when Mayor Harold Washington signed an executive order making Chicago a 'sanctuary city' and deepened in 2017 when Republican Gov. Bruce Rauner signed the TRUST Act, which solidified Illinois' status as a welcoming state where law enforcement focuses on solving crimes instead of mass deportations. Research shows that welcoming cities and states contribute greatly to public safety. The contributions of immigrants are embedded in the fabric of our state's past, our present and our future. We believe this to be true for the country as whole. More than 18% of Illinois' workforce was born outside the United States — with most coming from Mexico, India, Poland, the Philippines and China. More than 18% of recent homebuyers in Illinois were born outside the U.S. More than 27% of entrepreneurs in Illinois were born outside the United States, making them the founders of new businesses that are the main driver of job growth in this country. Latinos specifically make up the highest percentage of the state's workforce among all racial and ethnic groups and contribute $100 billion annually to the state's economic output. We believe Congress and the president understand the contributions of immigrants; however, at the moment, they have been more interested in scapegoating immigrants than finding real solutions. There are indications that Republicans in Congress and the White House recognize this. Just recently, Agriculture Secretary Brooke Rollins and Trump both acknowledged that they're working to ease immigration restrictions for farm laborers — given that 40% of crop workers are unauthorized and their absence could result in a $30 billion plunge in production, making them essential to the stability of the agricultural industry. The president's plan would also ease immigration restrictions for the hospitality industry. We know that lasting solutions will not come from scapegoating immigrants. These individuals care for our young and elderly, help put food on the table, build and clean our homes. They are also students, teachers, firefighters, police officers, military veterans, business owners and entrepreneurs. In short, they are our neighbors and Americans who don't have the right piece of paper but are legally entitled to due process and an opportunity to strengthen the economy and the fabric of our nation. Let's stop with the political theater and instead use this upcoming hearing to focus on real solutions to continue the greatness of this nation. After all, it is un-American to dim the torch that soars above the Statue of Liberty that has welcomed immigrants since this nation's founding. Karina Ayala-Bermejo is president and CEO of Instituto del Progreso Latino and an Illinois Latino Agenda member. Raul Raymundo is the CEO of The Resurrection Project and an Illinois Latino Agenda member.
Yahoo
08-05-2025
- Politics
- Yahoo
Puppy-Killer Noem Trolled Over Latest ICE ‘Publicity Stunt'
Illinois Gov. J.B. Pritzker on Wednesday made it clear that Homeland Security Secretary Kristi Noem is not welcome in his state. The comments, in which he mocked Noem's admitted dog-killing ways, came after she slammed the state's sanctuary status in a press conference. The enactment of Illinois' TRUST Act, the Way Forward Act, the Welcoming City Act, and a Cook County ordinance, limits how local authorities can aid U.S. Customs and Immigration Enforcement (ICE) agents in federal immigration enforcement actions. Noem claimed that 'people are dying every day' because of such policies. 'People are evading justice,' Noem said during the conference, which was held near a street corner in downtown Springfield, reported the Chicago Tribune. Noem further alleged that Pritzker was 'violating the Constitution' by not cooperating with the federal government. 'Governors like JB Pritzker don't care if gangbangers, murderers, rapists and pedophiles roam free in his state,' she said. Gov. JB Pritzker is a battle-tested Democrat known for his thick skin and bloated bank account. / Chicago Tribune / TNS However, Pritzker wasted no time throwing such allegations back in her face. Ahead of her visit, Pritzker mocked Noem's dog-killing ways in a statement urging 'all pet owners in the region to make sure all of your beloved animals are under watchful protection.' The statement added, 'Despite the Trump Administration being in office for more than 100 days and falsely accusing Illinois of not following federal and state law, Secretary Noem and her team does not communicate with the State of Illinois and has not asked for support or coordination to enforce immigration laws,' Pritzker followed the press conference with another statement skewering Noem's actions as attention-seeking, The Hill reported. 'Trump-Noem publicity stunts do not make our communities safer or our immigration system smarter. Illinois doesn't need to abuse power or ignore the Constitution to keep our people safe,' said Pritzker. 'Like the millions of Americans asking for sensible, humane immigration reform, I encourage the Secretary to spend less time performing for Fox News and more time protecting the Homeland.' Noem's press conference came as her 'real ID' deadline went into effect, requiring travelers to have a state-issued driver's license or ID card meeting security requirements. But many travelers reported that the enforcement appeared to be mostly superficial. In Illinois, Pritzker also reminded Noem that she was visiting the state during Latino Unity Day. 'Secretary Noem must have not realized she was visiting during Latino Unity Day where we come together celebrate the vibrancy and diversity of our community,' Pritzker said. 'Today, Secretary Noem was met by a force stronger than her: the people of Illinois.'
