Left and right are joining forces to ban lawmakers from trading stock

Washington – An unusual alliance emerged on Wednesday in the House while the legislators who are suitable for little support for a bill which would prohibit members of the Congress and their families to own and exchange individual actions.

The group included darlings from the far right, the left, the moderates and many between the two. They gathered to promote a ban which questions well with the voters and seems to find a new momentum after having hidden during the previous sessions of the Congress.

“It is not every day that you see this casting of characters here,” said Brian Fitzpatrick, a moderate republican who represents a perennial swing district in Pennsylvania. “You all smile there. It’s a good thing. It talks about the power of this cause.”

Congress has discussed proposals for years to prevent legislators from engaging in the negotiation of individual actions, nodding at the idea that there is a potential conflict of interest when they are often aware of information and decisions that can considerably move the markets.

A Senate Committee approved the legislation of the GOP senator, Josh Hawley of Missouri, which would also extend the prohibition to negotiate actions to future presidents and vice -presidents – while including Republican President Donald Trump. The House Bill Unveiled this week is limited to the congress, but the sponsors said they were ready to extend it to the executive branch if enough support emerged.

Under the current law, federal legislators are required to disclose their sales and purchases of shares. The bill requiring disclosure, the law on actions, was promulgated in 2012. At the time, government legislators and childcare dogs predicted that public disclosure would shame the purchase legislators and the sale of actions actively. It did not happen.

The sponsors said they have merged their own individual invoices on the prohibition of actions and met with a single bipartite effort. The Chip Roy representative of Texas, the main sponsor of the bill, said that the group had gathered for several months and that some sponsors have worked there for years. A dozen legislators of the two parties joined Roy on stage. It was an unusually festive moment because the partisan lines in the congress have rarely been clearer.

“I do not agree with some of these people about anything,” said representative Tim Buchett, a Tennessee republican often aligned with the Caucus of the Freedom Caucus ultra-conservative.

Progressive representative Alexandria Ocasio-Cortez, DN.Y. Followed Burchett on the podium and scrambled it by doing so. She said she had the impression that the coalition showed how the congress should actually work. “He feels foreign and it’s a foreigner and is it like, what happens here?” She said.

Although legislation would not allow legislators to have individual shares and obligations, they would be authorized to have diversified common funds and ETF and certain basic products. Legislators who currently have individual shares and obligations would have 180 days to depart. The new members would have 90 days to divest themselves when taking office.

The atmosphere was celebrated during Wednesday’s disclosure, but even if the bill had to pass the room, it would face a more difficult ascent in the Senate. At least 60 votes would be necessary to advance legislation in this room and some senators have expressed their concerns about the concept.

The representative Seth Magaziner, Dr.I., acknowledged that the members opposed to the prohibition of actions are “persistent”.

“Those of us who support the prohibition on the exchange of action in the congress are very vocal in our position, but that does not mean that there are no adversaries,” said Magazine.

Some members expressed their urgency to move the bill to the House. Rep. Anna Paulina Luna, R-Fla. He said they “asked leadership well to put this on the ground” and set a deadline for the end of the month before it seeks to force a vote.

A version of the commercial prohibition which progressed from a Senate committee was described by the Republican senator Ron Johnson of Wisconsin as “legislative demagoguery”.

“We have laws on the offense of initiate. We have financial disclosure. Believe me, we have financial disclosure, “said Johnson. “So I don’t see the need for this.”