Pelosi Reverses, Backs Banning Stock Trades By Reps

The Hill reports:

Speaker Pelosi (D-Calif.) has directed House Democrats to draft a bill to ban members of Congress and their senior staffers from trading individual stocks, giving the movement newfound momentum.

Democratic leaders aim to vote on a stock trading bill by the end of the year, potentially before November’s midterm elections, Punchbowl News reported Wednesday.

Rep. Zoe Lofgren (D-Calif.), chairwoman of the House Administration Committee, will work on policy recommendations under the direction of Pelosi and other top Democrats. Pelosi’s support for a stock trading ban is a reversal from her previous position.

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I’m proud to have sponsored this proposal early last year and put my own life savings in a blind trust. And I’m glad Speaker Pelosi is — finally — on board.

Now if only my stock trading millionaire opponent would also put his money where his mouth is. https://t.co/1zdDBZKbdT

— Tom Malinowski (@Malinowski) February 9, 2022