{"id":1230435,"date":"2022-01-21T16:53:47","date_gmt":"2022-01-21T21:53:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1230435"},"modified":"2022-01-21T16:54:02","modified_gmt":"2022-01-21T21:54:02","slug":"another-republican-joins-efforts-to-ban-insider-trading-introduces-legislation-in-the-house","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/another-republican-joins-efforts-to-ban-insider-trading-introduces-legislation-in-the-house\/","title":{"rendered":"Another Republican Joins Efforts To Ban Insider Trading, Introduces Legislation In The House"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fanother-republican-joins-efforts-to-ban-insider-trading-introduces-legislation-in-the-house%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1230435&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Rep. Vicky Hartzler (R-MO) joined fellow Missourian Sen. Josh Hawley (R) in pushing for a ban on insider trading in Congress.&nbsp;<\/p>\n<p>Hartzler introduced the \u201c<a href=\"https:\/\/hartzler.house.gov\/sites\/hartzler.house.gov\/files\/Banning%20Insider%20Trading%20in%20Congress%20Act.pdf\">Banning Insider Trading Act<\/a>\u201d on Wednesday, stating, \u201cIt\u2019s past time for Congress to crack down on this potential corruption.\u201d&nbsp;<\/p>\n<p>\u201cWhen Speaker Pelosi can trade millions of dollars in stocks per year, outperform the market, and receive classified briefings at the same time, it\u2019s no wonder she defends the trading of individual stocks by Congress,\u201d she <a href=\"https:\/\/hartzler.house.gov\/media-center\/press-releases\/hartzler-leads-hawleys-efforts-house-ban-insider-trading-congress\">said<\/a>. \u201cIt\u2019s past time for Congress to crack down on this potential corruption and work for the American people, instead of their own wallets. I am pleased to join Senator Hawley in our fight to restore decency and truth to Washington. No one \u2013 not even the Speaker of the House \u2013 should benefit from public service.\u201d<\/p>\n<p>Hartzler\u2019s bill would \u201cprohibit Members of Congress and their spouses from holding or trading individual stocks\u201d and \u201crequire Members found in violation to return their profits to the American people.\u201d<\/p>\n<p>Hawley introduced similar legislation in the Senate last week. His bill would likewise stop members and their spouses from holding, buying, and selling stocks, but it would not ban mutual fund investments, according to <a href=\"https:\/\/www.dailywire.com\/news\/josh-hawley-announces-bill-banning-insider-trading-in-congress\">The Daily Wire<\/a>.<\/p>\n<p>\u201cYear after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they\u2019re supposed to be regulating,\u201d Hawley said in a <a href=\"https:\/\/twitter.com\/abigailmarone\/status\/1481422244349939716\">statement<\/a>. \u201cWall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country.\u201d<\/p>\n<p>Democrats in the Senate also introduced a ban on insider trading. Sens. John Ossoff (GA) and Mark Kelly (AZ) put forward similar legislation. Ossoff and Kelly\u2019s bill would go one step further by prohibiting dependent children of lawmakers from trading stock, according to <a href=\"https:\/\/www.axios.com\/josh-hawley-stock-ban-bill-c1f17548-286c-4244-8798-ce465efffc1f.html\">Axios<\/a>.&nbsp;<\/p>\n<p>House Speaker Nancy Pelosi (D-CA) has been pressured in recent weeks to support a ban on insider trading. Last month, she <a href=\"https:\/\/www.dailywire.com\/news\/pelosi-on-why-congress-should-be-allowed-to-trade-stock-after-dozens-broke-law-we-should-be-able-to\">said<\/a> members \u201cshould be able to\u201d trade stock. Days later, <a href=\"https:\/\/www.dailywire.com\/news\/pelosi-husband-buy-millions-in-call-options-days-after-she-defended-congress-being-allowed-to-buy-stock-report\">reports<\/a> surfaced of Pelosi\u2019s husband trading large amounts of assets. And on Thursday, Pelosi <a href=\"https:\/\/www.dailywire.com\/news\/pelosi-has-great-confidence-in-fellow-lawmakers-but-is-now-open-to-more-stock-trading-restrictions\">stated<\/a> she is open to the idea of legislation banning the practice for members of Congress. \u201cI do come down always in favor of trusting our members,\u201d she said during a press conference. \u201cIf the impression that is given by some that somebody is doing insider trading, that\u2019s a Justice Department issue \u2026 and that has no place in any of this. But to give a blanket attitude of \u2018we can\u2019t do this and we can\u2019t do that,\u2019 because we can\u2019t be trusted, I just don\u2019t buy into that,\u201d she continued. \u201cBut if members want to do that, I\u2019m okay with that.\u201d<\/p>\n<p>Hartzler\u2019s legislation in the House shows there could be large support for banning insider trading from both parties and in both chambers.&nbsp;<\/p>\n<p>Her bill would:&nbsp;<\/p>\n<li aria-level=\"1\">Prohibit Members of Congress and their spouses from holding, acquiring, or selling stocks or equivalent economic interests during their tenure in elected office. Any holdings in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds are exempt from the prohibition.\n<li aria-level=\"1\">Give Members of Congress and their spouses six months, upon assuming office, to divest any prohibited holdings or place those holdings in a blind trust for the remainder of their tenure in office.\n<li aria-level=\"1\">Ensure Members or their spouses forfeit any investment profits to the American people via the U.S. Treasury if they are found to be in violation if the Act. Members who violate the requirements will also lose the ability to deduct the losses of those investments on their income taxes. The ethics committees of Congress may levy additional fines and will publicize violations.\n<li aria-level=\"1\">Require that after two years of the Act\u2019s implementation, the Government Accountability Office (GAO) will conduct an audit of Members\u2019 compliance with the Act.\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a class=\"in-cell-link\" href=\"https:\/\/www.dailywire.com\/subscribe\" target=\"_blank\" rel=\"noopener\">member<\/a>.<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Vicky Hartzler (R-MO) joined fellow Missourian Sen. Josh Hawley (R) in pushing for a ban on insider trading in Congress.\u00a0 Hartzler introduced the \u201cBanning Insider Trading Act\u201d on Wednesday, stating, \u201cIt\u2019s past time for Congress to crack down on this potential corruption.\u201d\u00a0 \u201cWhen Speaker Pelosi can trade millions of dollars in stocks per year, &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1230435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1230435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1230435"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1230435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1230435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1230435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1230435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}