{"id":1413310,"date":"2022-03-31T14:45:25","date_gmt":"2022-03-31T18:45:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1413310"},"modified":"2022-03-31T14:45:35","modified_gmt":"2022-03-31T18:45:35","slug":"rep-byron-donalds-says-congress-should-not-be-actively-trading-stocks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rep-byron-donalds-says-congress-should-not-be-actively-trading-stocks\/","title":{"rendered":"Rep. Byron Donalds Says Congress \u2018Should Not Be Actively Trading\u2019 Stocks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/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%2Frep-byron-donalds-says-congress-should-not-be-actively-trading-stocks%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=1413310&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--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/03\/GettyImages-1232971721.jpeg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Florida Republican Rep. Byron Donalds, who sits on the select committee on economic disparity and fairness in growth, told The Daily Wire that while members of Congress should not be banned from trading stocks \u2014 amid bipartisan calls for regulations \u2014 they should have to defer to third parties who sign off on trades.<\/p>\n<p>\u201cI do not think that members or their spouses should be actively trading,\u201d said the congressmen in an interview Thursday afternoon. \u201cI think that if their investments are held by managers, and the managers are authorized to trade on their behalf, that\u2019s acceptable.\u201d<\/p>\n<p>\u201cIf a member or spouse executes a trade on their own,\u201d he continued, \u201ceither by doing it directly or calling their broker to do the trade, then they have to obviously disclose that immediately.\u201d<\/p>\n<p>The comments from the Republican come on the heels of House Speaker Nancy Pelosi\u2019s (D-CA) husband Paul purchasing 2,500 shares of Tesla stock, <a href=\"https:\/\/www.dailywire.com\/news\/pelosis-husband-buys-2-million-worth-of-tesla-stock-as-democrats-call-for-more-green-energy-spending\">The Daily Wire<\/a> reported. The shares were worth roughly $2 million at time of purchase and spiked nearly 19% shortly after. In February, Pelosi reversed her position on trading ban legislation and <a href=\"https:\/\/www.nytimes.com\/2022\/02\/09\/us\/politics\/pelosi-stock-trading-congress.html\">said<\/a> she would support such legislation if introduced.<\/p>\n<p>\u201cWe have to do something to deter something that we see as a problem, but it is a confidence issue, and if that\u2019s what the members want to do, then that\u2019s what we\u2019ll do,\u201d Pelosi said.<\/p>\n<p>Potentially curtailing the ability of members of Congress to trade stocks is an issue that has garnered bipartisan support. In January, House Minority Leader Kevin McCarthy (R-CA) and other GOP leaders met privately to discuss regulations.<\/p>\n<p>A source close to McCarthy\u2019s office indicated to The Daily Wire that the Republican leader is still considering new limits.<\/p>\n<p>Donalds, who worked as a financial advisor before entering politics, thinks that fully restricting congressmen from trading stocks is not the right course of action. He noted that there are members with less money who should be able to engage in the free-market. But he holds firm that he and his fellow lawmakers should be unable to directly engage in the market given the exclusive knowledge they may gain access to about companies.<\/p>\n<p>\u201cI should not be at a trading platform. I have access to too much information that the American people simply do not have,\u201d he said. \u201cI should not be trading shares. I should not be advising on trading shares.\u201d<\/p>\n<p>While some Democrats and Republicans push for regulations, a new <a href=\"https:\/\/www.capitoltrades.com\/#\/trades\">website<\/a> called Capitol Trades launched in August 2021 to track what politicians and their families are trading. In the past three years, Reps. Ro Khanna (D-CA), Michael McCaul (R-TX), Diana Harshbarger (R-TN), Phil Roe (R-TN), and Josh Gottheimer (D-NJ) are listed as the top five members and former members executing the most trades in Congress.<\/p>\n<div class=\"css-j7qwjs\">\n<div id=\"post-body-text\">\n<div class=\"e1nzmkc90 css-1s0j25g\">\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same?\u00a0<a href=\"https:\/\/www.dailywire.com\/subscribe\">Become a member now and join our mission<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Florida Republican Rep. Byron Donalds, who sits on the select committee on economic disparity and fairness in growth, told The Daily Wire that while members of Congress should not be<\/p>\n","protected":false},"author":381,"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-1413310","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\/1413310","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\/381"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1413310"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1413310\/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=1413310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1413310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1413310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}