Trump Criticizes GOP Senator Over Stock Trading Proposal
In Washington, President Donald Trump recently expressed his discontent towards Senator Josh Hawley after the senator’s proposal to ban stock trading by members of Congress gathered bipartisan support in a committee vote. This situation marks the second time in just as many days that Trump has publicly clashed with members of his own party, hoping to guide them back in line with his viewpoints.
Trump labeled Hawley as a “second-tier senator” and voiced concern that his actions could jeopardize the success of the presidency, stating, “I don’t think real Republicans want to see their President, who has had unprecedented success, TARGETED, because of the ‘whims’ of a second-tier Senator named Josh Hawley!”
GOP senators had collaborated with the White House on the stock trading bill, but an attempt to exempt the president from the ban fell through, with Hawley siding with Democrats to block it. Trump noted that Hawley also joined the Democrats in opposing an amendment that would have investigated stock trades by former House Speaker Nancy Pelosi and her husband, who has been under scrutiny for his trading activities.
While Hawley has yet to respond to Trump’s comments, his legislation, which was co-sponsored by Senator Gary Peters of Michigan, passed through the Senate Committee on Homeland Security and Governmental Affairs. This bipartisan effort aims to ban members of Congress, as well as the president and vice president, from buying or selling stocks.
Hawley argued that this legislation, termed the Honest Act, addresses long-standing public demand for transparency and accountability from elected officials. He emphasized the need to prevent lawmakers from profiting from insider information related to stock trading.
Concerns over stock trading among Congress members have persisted, especially since some have accumulated significant wealth while in office. Instances during the COVID-19 pandemic revealed lawmakers trading stocks based on information not publicly available to average Americans.
If signed into law, the bill would prohibit members of Congress from buying stocks immediately and would enforce a 90-day period in which they could not sell stocks. However, it would allow current officials to hold investments until the start of their next term, thus shielding Trump from immediate compliance with the new law.
Tensions arose during the committee discussion as Republicans proposed alternative amendments. Senator Rick Scott of Florida suggested exemptions for the president, vice president, and their families, but these were ultimately defeated with Hawley’s support aligning with the Democrats.
Senator Ron Johnson of Wisconsin criticized the overall bill, dismissing it as “legislative demagoguery,” asserting that current insider trading laws and financial disclosures are sufficient.
Trump’s criticism of Hawley follows similar frustrations directed at Senator Chuck Grassley regarding Senate procedures for judicial nominations. Grassley acknowledged being “offended” by Trump’s remarks and reiterated his dedication to working towards effective governance.
