The News
House Republicans and Democrats who want to ban lawmakers from trading stocks are rushing to negotiate compromise legislation so they can capitalize on recent comments by President Donald Trump and House Minority Leader Hakeem Jeffries backing the proposal, Rep. Seth Magaziner, D-R.I., told Semafor.
There’s just one problem: Leadership has yet to inform those supporters of any plans to put it to a vote, another person familiar said.
“Ultimately, the ball’s in his court,” Magaziner said of House Speaker Mike Johnson.
In the meantime, Magaziner says he and Reps. Chip Roy, R-Texas, Alexandria Ocasio-Cortez, D-N.Y., and Brian Fitzpatrick, R-Pa., are discussing how to penalize members who trade and handle cryptocurrency as they look to blend their measures.
It’s worth noting that though politicians take a lot of heat for alleged insider trading, they rarely beat the market (and many outsource their portfolios).
Johnson did not comment.