A Senate bill aiming to curb stock trading by members of Congress has cleared its committee stage, gaining bipartisan support. The legislation would mandate that lawmakers divest from firms they regulate, with an exception crafted to protect President Trump from the divestment rule. Senator Josh Hawley, the bill’s sponsor, received backing from every Democrat and a single Republican, signaling a rare point of agreement on the issue.
The measure, which passed the committee with overwhelming Democratic support and limited Republican backing, seeks to address potential conflicts of interest by preventing lawmakers from profiting from their regulatory roles in the financial sector. The unique exemption for President Trump has drawn scrutiny, with critics arguing it undermines the bill’s integrity and creates a loophole for potential abuses of power. However, supporters insist it balances accountability with executive privilege in matters of national security and policy.
Senator Hawley, a prominent member of the Republican Party, has pushed for the bill as part of broader efforts to increase transparency and ethical standards in government. His personal support for the measure, despite its contentious provisions, has been crucial in securing the necessary votes. The bill now moves to the full Senate for debate, where it faces the challenge of overcoming procedural hurdles and garnering additional support from both parties. As the legislative process unfolds, the implications of the proposed rule changes for congressional ethics and financial oversight remain a focal point of discussion.