Sen. Josh Hawley introduces bill to ban senior executive branch officials from buying, selling stocks
FOX Business correspondent Grady Trimble has more on lawmakers’ bipartisan push to ban D.C. stock trading on “Varney & Co.”
Sen. Josh Hawley, R-Mo., introduced the "Eliminating Executive Branch Insider Trading Act" on Tuesday night, a bill that would "ban the trading and holding of individual stocks by senior Executive Branch officials."
The new legislation comes amid renewed interest from lawmakers – on both sides of the aisle – to regulate stock trading among government officials in Washington, D.C.
The topic was a hot issue during the 2022 election cycle, but failed to find any meaningful progress as lawmakers were unable to come to any agreements before the end of the 117th Congress.
Now, Hawley tells Fox Business, is the time to act.
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"How you can explain to the American people why you are in favor of members of Congress day-trading based on information that they've got – that other people don't have out of the public? That's not what we're sent here to do," Hawley explained.
"I think it is a conflict of interest. Listen, insider trading is already banned, but members of Congress, I think, get information that a lot of the public just isn't privy to. It may not technically be insider trading, but I do think it presents conflicts of interest," he added.