House petition seeks ban on lawmakers' stocks
A discharge petition led by Rep. Anna Paulina Luna seeks a ban on members of Congress trading individual stocks, part of broader congressional consideration of limits that go beyond transparency measures. Speaker Mike Johnson denied making any deal to bring the measure to the floor and expressed doubt the petition will reach the 218 signatures needed.
📌 Key Facts
- Rep. Anna Paulina Luna formally launched a discharge petition last week to force consideration of a ban on lawmakers trading individual stocks.
- The discharge petition must reach 218 signatures to bring the stock‑trading ban to the House floor; Speaker Mike Johnson expressed doubt it will reach that threshold.
- Speaker Mike Johnson publicly denied making any deal with Rep. Luna to bring the stock‑trading ban to the floor.
- The dispute has been portrayed as part of broader strains within House Republicans and cited as evidence that Johnson's grip on the House is slipping as some Republicans defy leadership.
📊 Relevant Data
Congressional leaders outperform rank-and-file lawmakers by up to 47% a year in stock returns, according to a recent working paper from the National Bureau of Economic Research.
A new study from the Rady School of Management reveals that public exposure to reports of Congressional stock trading significantly reduces Americans' trust in government and compliance with the law.
Congressional Stock Trading Severely Undermines Public Trust and Compliance with the Law — Rady School of Management, UCSD
News organizations have identified more than two dozen current members of Congress who have violated the STOCK Act's disclosure requirements.
Nearly 100 former lawmakers call on House to ban stock trading by members of Congress — OpenSecrets
📰 Sources (2)
- Speaker Mike Johnson publicly denied making any deal with Rep. Anna Paulina Luna to bring a stock‑trading ban to the floor.
- Luna formally launched the discharge petition last week; Johnson expressed doubt it will reach 218 signatures.