The authors of a bipartisan proposal to ban lawmakers from trading stocks are on alert after a rumored markup of the bill turned out to just be a hearing on the broader issue.
“Some of the Republican members we have been working with, not just [Rep. Anna Paulina] Luna, were under the impression that it would be a markup,” Rep. Seth Magaziner, D-R.I., told Semafor on Tuesday. “If the hearing is the beginning of a regular order process that will lead to a markup and a floor vote — that’s forward progress. … If, however, this is just a delaying tactic by the speaker, then, obviously that is unacceptable.”
Magaziner and Rep. Chip Roy, R-Texas, have long urged a floor vote this fall. Though Luna has threatened a discharge petition forcing a vote in the past, other Republican supporters have been more circumspect.
Lawmakers from opposite ends of the political spectrum have expressed enthusiasm for the stock ban, making for some unusual Capitol optics. Though the popularity of apps like the “Pelosi Tracker” from startup Autopilot suggests many Americans view lawmakers’ trading activity with suspicion (or at least interest), some studies have found little evidence that members’ portfolios perform better.
Graph Massara contributed to this report.