House Minority Leader Kevin McCarthy(R-CA) has out maneuvered Democrats in an awesome display of gamesman ship. McCarthy is considering a bill that bans lawmakers holding and trading stocks if Republicans take back the House in November. The announcement follows House Speaker Nancy Pelosi’s (D-CA) recent press conference where she said lawmakers should be allowed to do so.
The idea is simple. Elected officials often get inside information that would give them an advantage in the stock market. Therefore, Congress members should not be allow to hold, buy or sell stock while in office.
But the new move is personal for Pelosi. She and her husband have made tens of millions of dollars using Pelosi’s insider information to make money in the stock market.
And Pelosi is not alone. Other lawmakers, including many Democrats, have been discovered with large amounts of stock or with a spouse who is buying and selling shares.
McCarthy’s move will appeal to Americans, though, as voters would appreciate at least one new area where a conflict of interest could be removed. But it will only move forward if conservative control the House. Why? Too many Democrats are implicated to move the vote forward.
Check out the latest from McCarthy in the video featuring the full details of the latest GOP proposal to mess up Pelosi’s plans.