Senate Advances Bipartisan Bill to Ban Stock Trading by Lawmakers, President

A bipartisan bill known as the Honest Act, introduced by Sen. Josh Hawley and Sen. Gary Peters, seeks to ban stock trading by members of Congress, the president, and the vice president while in office. The bill recently advanced through the Senate Homeland Security and Governmental Affairs Committee despite opposition from several Republicans, including Sen. Rand Paul, who argues that the ban could discourage successful people like President Donald Trump from running for office. Trump criticized Hawley for supporting the bill, accusing him of aiding Democrats, but Hawley reported having a positive conversation with the president, who supports banning stock trading by lawmakers. The White House has expressed concerns over the bill's inclusion of the president and vice president, citing potential constitutional issues, but continues to back the measure, partly motivated by controversies surrounding stock trades by figures like House Speaker Nancy Pelosi. Pelosi's significant stock portfolio growth has been cited by both Trump and the White House as a reason for the legislation, highlighting public concerns about lawmakers enriching themselves through insider information. The bill would require officials to divest their holdings by the start of their next term, though it would not force immediate divestiture upon enactment.