The bill is expected to be moved quickly to the full House for a vote.
The House Administration Committee advanced legislation this week that is intended to prohibit stock trading for all members of Congress, their spouses, and dependent children. Members would be allowed to keep the stocks that they already own, and they would also still be permitted to buy and sell diversified investment funds. If they wanted to then sell their individual stocks, they would have to publicly give notice between seven and fourteen days before doing so.
House Majority Leader Steve Scalise stated that he “would like to move this bill for a full House vote soon after it gets out of committee.” However, some members of the House feel as though the bill needs to go further in banning members of Congress from both trading and owning individual stocks, as well as blind trusts. Others believe the president and vice president should also be included in this type of restriction.
The committee also considered a measure this week that seeks to withhold pay from members of Congress during any government shutdown.
As the Lord Leads, Pray with Us…
- For wisdom for members of the House as they consider this legislation.
- For House Speaker Mike Johnson as he determines when to schedule the bill for a vote.
Sources: Roll Call, CNBC, Reuters
