Trump Slams Hawley Over Ban on Congressional Stock Trades

A proposal to bar members of Congress from buying or holding individual stocks cleared a Senate panel Wednesday, with Republican Sen. Josh Hawley crossing the aisle to join Democrats in an 8-7 committee vote. Hawley, who introduced the bill, said, "I practice what I preach," noting he doesn't own stocks and isn't a billionaire—a not-so-subtle jab at some colleagues.

• The measure would bar lawmakers and their spouses from trading or owning individual stocks, giving them 180 days to divest, CBS News reports Annual compliance certifications and periodic audits would be required. Lawmakers would still be allowed to invest in diversified mutual funds, exchange-traded funds, or Treasury bonds, reports Fox News.

• The measure was originally called the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act—after former House Speaker Nancy Pelosi. She has been under scrutiny for her husband's stock trades, but there is no evidence he used inside information, Politico reports. It was renamed the Honest Act following negotiations. "While I appreciate the creativity of my Republican colleagues in drafting legislative acronyms, I welcome any serious effort to raise ethical standards in public service," Pelosi said in a statement.

• All the other Republicans on the Senate Committee on Homeland Security and Governmental Affairs voted against the legislation. Sen. Rick Scott, himself worth hundreds of millions, argued there's nothing wrong with being wealthy and called attacks on the rich "disgusting." He said: "Anybody want to be poor? I don't." Some GOP senators pushed for blind trusts as an alternative, but Hawley dismissed those as "loopholes."
• In negotiations with Democrats, Hawley agreed to extend the ban to presidents and vice presidents, but only in future administrations, meaning President Trump and Vice President JD Vance are exempt, Axios reports.

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• During a press conference Wednesday, Trump said he liked the idea "conceptually," claiming Pelosi "became rich" by having inside information.
• Trump changed his tune later in the day. In a post on Truth Social, he blasted Hawley, accusing him of playing into Democratic hands and questioning why he "would pass a Bill that Nancy Pelosi is in absolute love with." "It's a great Bill for her, and her 'husband,' but so bad for our Country!" Trump wrote. "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!"