Congress to hold hearing on member stock trading amid Pelosi’s reported $130 million windfall
FIRST ON FOX: A House committee will be holding a formal hearing next Wednesday that will include discussion about whether members of Congress should be allowed to trade individual stocks.House...
By Fox News · Fox News
FIRST ON FOX: A House committee will be holding a formal hearing next Wednesday that will include discussion about whether members of Congress should be allowed to trade individual stocks. House Administration Committee Chairman Bryan Steil, R-Wis., will lead the hearing, titled "Taking Stock of the STOCK Act," which will include two witnesses from the Taxpayers Protection Alliance and the Manhattan Institute. The hearing's purpose is to determine policy angles that may be effective in reining in some of the controversial profits that members of Congress have earned through alleged insider information. " Members of Congress should never profit off insider information," Steil told Fox News Digital. "A number of proposals have been put forward to strengthen the STOCK Act. Our hearing will review the current law and evaluate the reforms needed to fix the system." UNLIKELY ALLIES: TRUMP, PELOSI AND THE PUSH TO BAN CONGRESSIONAL STOCK TRADING The hotly debated topic of whether members should be allowed to trade individual stocks will be at the forefront of next Wednesday’s hearing, as some members have been outspoken against trading and have introduced legislation to adjust the current laws as recently as this Congress. Rep. Chip Roy, R-Texas, has already introduced legislation to ban stock trading in his bill, the Restore Trust in Congress Act, which would bar active trading for members and those in their immediate families. While Roy does not serve on the House Administration Committee, he has not been shy about the issue. "I'm glad to see the House taking another step towards banning members of Congress from day trading stocks as it is far past time we act," Roy told Fox News Digital. "The American people should have faith that Congress is at work for the good of the country, not for their own bank accounts. I am proud to have led this charge for years and to be working with my colleagues on both sides of the aisle to address this issue." "I thank Chairman Steil for…