Speed Reads

trade off

Rashida Tlaib and Matt Gaetz are among a 'motley bipartisan crew' pushing for a congressional stock trading ban

Twenty-seven members of the House of Representatives signed a letter dated Monday urging both House Speaker Nancy Pelosi (D-Calif.) and Minority Leader Kevin McCarthy (R-Calif.) to bring to the House floor legislation forbidding members of Congress from trading or owning stocks, Axios reports.

The letter's signatories have been described by Politico as a "motley bipartisan crew," in that they're lawmakers from all sides of the ideological spectrum; very rarely might you see the name of progressive Rep. Rashida Tlaib (D-Mich.) signed next to that of the inflammatory Rep. Matt Gaetz (R-Fla.).

Lawmakers had also prior to this expressed interest in limiting congressional trade activity, notes Axios, though "Pelosi has been decidedly unenthusiastic about moving here," Politico adds. 

Even with her reluctance, however, the speaker may have "cracked the door" to some sort of rules change after her comments last week: "To give a blanket attitude of, 'We can't do this and we can't do that because we can't be trusted,' I just don't buy into that. But if the members want to do that, I'm okay with it."

Of course, more than 27 members would need to support any such legislation for it to pass, but this group is decidedly in favor. "While there are many difficult questions facing Congress, this is an easy one," their letter reads. "Members of Congress should not be allowed to own or trade individual stocks. Let's get this done."