Connect with us

Congress

Republicans put pressure on Johnson to advance congressional stock trading ban bill

Published

on

Two House Republicans vowed Wednesday to pressure Speaker Mike Johnson and GOP leaders to advance a bill banning congressional stock trading in the coming weeks, not content to settle for a mere hearing on the topic.

“A bill will come to the floor,” Rep. Brian Fitzpatrick (R-Pa.) said at a press conference outside the House Administration Committee hearing room, where academics were preparing to testify about the ins and outs of current stock trade ethics enforcement.

“This is a fist fight, folks,” Rep. Tim Burchett (R-Tenn.) chimed in.

The lawmakers, appearing alongside Democratic Reps. Pramila Jayapal of Washington and Seth Magaziner of Rhode Island, have been pushing for Congress to crack down on member stock trading.

They got a modest win with Johnson’s willingness to let a committee convene a hearing on the politically divisive topic. But they are now doubling down in their efforts to make sure the chamber also holds a markup and floor vote on actual legislation — either the compromise bill requiring members to divest from individual stocks, which the four lawmakers co-sponsored with a bipartisan coalition in September, or another version with similarly strong restrictions.

Rep. Anna Paulina Luna (R-Fla.), who is also advocating for the bipartisan stock trading legislation, said in an interview Tuesday she plans to unleash a discharge petition to end-run Johnson and try to force a floor vote on if GOP leaders fail to notice a markup on a congressional stock trading ban bill by the end of Wednesday.

But House GOP leaders are wary that a bipartisan bill or a similar measure will trigger blowback from a swath of Republicans, including some who say stock trading is an important source of income for themselves and their families.

Burchett disagreed, saying that if the House votes to ban congressional stock trading, members who are currently skeptical of the idea of a ban behind the scenes are “going to be our biggest cheerleaders[s]” on the chamber floor.

Political pressure to embrace a ban on stock trading, though, could run up against lawmakers who are protective of their activities in this space.

Fitzpatrick also warned that members’ individual stock performance will be discussed in hearings on any stock trading bill.

“Part of the fact finding is what members have done in terms of trading, sometimes on a daily basis,” Fitzpatrick said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Congress

Senate launches budget debate

Published

on

Senate Republicans opened debate Tuesday on a fiscal blueprint meant to pave the way for passage of a party-line immigration enforcement funding bill later this year.

The Senate voted 52-46 to advance the budget resolution, which Budget Chair Lindsey Graham (R-S.C.) unveiled earlier Tuesday. It instructs House and Senate committees to write legislation expected to deliver about $70 billion to Immigration and Customs Enforcement and other agencies.

The Senate is expected to give the measure final approval this week before leaving town. The chamber could move to a marathon voting session, known as a vote-a-rama, as soon as Wednesday, though plenty of Republicans are betting that it won’t start until Thursday.

Continue Reading

Congress

Cherfilus-McCormick resigns amid ethics investigation

Published

on

Rep. Sheila Cherfilus-McCormick (D-Fla.) has resigned in the face of corruption charges at home and calls for her ouster in Washington, she announced in a statement on Tuesday.

News broke minutes before the House Ethics Committee was about to meet for a public hearing Tuesday afternoon to determine a punishment for the third-term Democrat, who was charged with stealing $5 million in Covid relief funds.

Cherfilus-McCormick said in a statement the Ethics proceedings did not constitute a “fair process” and that she was “choos[ing] to step aside” rather than “play these political games.”

Continue Reading

Congress

Rick Scott holds up Coast Guard promotions

Published

on

Florida Sen. Rick Scott is blocking quick confirmation of hundreds of Coast Guard promotions as he tries to resolve a dispute involving a shipbuilder in his home state.

The Republican said in an interview Tuesday that he has placed a hold on the Coast Guard promotions, which prevents the Senate from easily clearing them unanimously and would force Majority Leader John Thune to set up time-consuming roll call votes on promotions that are usually agreed to with little fanfare.

“I’ve been talking … since Trump came into office about trying to resolve an issue they have with a boat builder in Florida. And they … won’t put the time in to get a result,” Scott said.

“I’ve met with everybody that I can meet with, and I want them to focus,” Scott said of the Coast Guard, adding that he wasn’t trying to dictate the outcome to the administration but emphasizing “you have to get this resolved.”

Scott didn’t specify which shipbuilder he was referring to. But Scott has been a longtime booster of a Coast Guard contract with Panama City-based Eastern Shipbuilding Group to deliver four new advanced cutters. A person granted anonymity because they were not authorized to speak publicly about the matter said the hold is related to the company.

Then-Homeland Security Secretary Kristi Noem scrapped plans for two of the boats last year, and ESG announced in November it would stop work on the two remaining boats “due to significant financial strain caused by the program’s structure and conditions.”

The tussle over the nominations comes as Thune is trying to quickly assemble and approve a new personnel package, telling reporters Monday night that confirming another tranche of President Donald Trump’s nominees is a priority alongside resolving the DHS shutdown and renewing soon-to-lapse surveillance powers.

Continue Reading

Trending