The Scoop
An architect of compromise legislation that would ban members of Congress from trading stocks told Semafor Thursday that lawmakers “have agreements in concept” on key provisions “that we needed to iron out,” like how to handle cryptocurrency.
Now, “we need to actually get it down on paper,” said Rep. Seth Magaziner, D-R.I., who’s been working with Rep. Chip Roy, R-Texas, and others to merge their respective proposals.
He added that the talks have been “so far smoother than, frankly, I anticipated.”
House Speaker Mike Johnson this week joined President Donald Trump and House Minority Leader Hakeem Jeffries in expressing support for such a ban, “because I don’t think we should have any appearance of impropriety.”
Magaziner pointed out that “there have been some unusual market movements over the last few months related to things like tariff announcements and rumors about … reconciliation.”