House Democrats Unleash Bid to Ban Stock Trading by President, VP and Congressional Leaders

House Democratic leaders have announced plans to introduce a discharge petition next month to compel a vote on legislation that would prohibit stock trading by members of Congress, the vice president, the president, and their immediate families.

Rep. Seth Magaziner (D-Rhode Island) confirmed his bill has garnered support from House Minority Leader Hakeem Jeffries (D-New York).

The Rhode Island representative stated: “I think it is possible that some Republicans could support a discharge petition for a bill that also includes the president and vice president.”

Magaziner noted that the legislation would require five Republican signatures to trigger a vote if all Democrats sign on.

Earlier this month, Rep. Anna Paulina Luna (R-Florida) filed her own discharge petition aiming to ban stock trading by members of Congress and their immediate families. Luna stated: “We have decided, because of a lack of movement from the House of Representatives, to initiate the discharge petition to ban insider trading.”

Fifteen Republicans and 57 Democrats have already signed Luna’s petition.

Magaziner confirmed his support for both discharge efforts.