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3w ago

Senate Committee Advances Stock-Trading Ban With Trump Exemption

The narrow vote carves out the sitting administration from the ban, raising doubts about when the bill will reach the Senate floor.

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Overview

  • The Senate Homeland Security and Governmental Affairs Committee approved the rebranded HONEST Act by an 8-7 vote, with Sen. Josh Hawley joining Democrats to move the measure forward.
  • The legislation would bar members of Congress, the president, the vice president and their spouses from trading individual stocks to curb conflicts of interest.
  • A last-minute amendment excludes President Trump and Vice President Pence from the trading ban, prompting criticism from several Republican senators.
  • President Trump slammed Hawley as a “second-tier” senator on Truth Social before Hawley refuted rumors that the bill would force Trump to sell his Mar-a-Lago assets.
  • Senate aides say the bill faces an uphill battle to reach the floor before lawmakers break for the August recess and confront looming budget deadlines.