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GOP Rep. Chip Roy Blasts Democrats For Handling Of Stock Trading Bill

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OPINION: This article may contain commentary which reflects the author's opinion.


Texas Republican Rep. Chip Roy is ripping Democrats for claiming publicly that they support a bill aimed at preventing lawmakers from insider trading. In a letter sent to House Speaker Nancy Pelosi, the Texas Republican slammed Democrats for not moving with any urgency to at least hold a vote on the STOCK Act.

Roy noted that he worked with Democrat Rep. Abigail Spanberger on the bill that would prevent lawmakers and members of their families from trading individual stocks.

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“As you are aware, the House floor schedule this week contains the ‘Possible Consideration of Legislation Related to the STOCK Act.’ I am glad to see the House finally taking up the idea of reforming policies related to Member stock trading. However, as one of the original sponsors of reform language — notably introducing HR336, the TRUST in Congress Act, some 2 years ago with my Democrat colleague from Virginia, Abigail Spanberger — I was interested to see the ‘final’ language via Jake Sherman’s Twitter account last night,” Roy wrote.

“The state of the House of Representatives is absurd — and that is not a partisan statement,” he continued. “Like virtually every other legislative idea or proposal, we have not had any robust debate on reforms to member stock trading or even a ‘Member Day’ hearing that would allow each member of the House to air individual views on the matter. This complex issue requires thought, debate, amendment, and a full airing in committee to build as much bipartisan agreement as possible rather than the normal cram-down from the top that permeates literally everything we do.”

Congress has spent months debating legislation that would, to an extent, forbid federal lawmakers, their spouses, and dependent children to buy, sell, or hold individual stocks. Top congressional leaders paused any progress on the bill until the conclusion of November’s midterm elections.

GOP House Leader Kevin McCarthy, who will likely become the next Speaker if Republicans win back the House in the midterms, said there will be an investigation into the Pelosis stock trading.

Pelosi came under fire late last month during an interview with The New York Times where she scoffed at the idea that “anybody” would vote for Republicans in November’s crucial midterms, essentially dismissing half of the country simply because they hold a different political belief.

“Part of it is, I cannot believe anybody would vote for these people,” Pelosi said, before bashing Republicans’ campaign strategy as “endless lying and endless money.” Pelosi also said she found it hard to fathom that Republicans could actually win.

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Pelosi has also come under fire quite a bit lately for her comments that many Americans view as dismissive.

Rumors continue to swirl that Pelosi is “expected” to retire or “step back” after November’s midterm elections.

A new report reveals that California Democrat Rep. Adam Schiff is positioning himself as heir to Pelosi’s speakership if she chooses to retire after Republicans likely win back the House. Pelosi, for her part, has announced that she will seek re-election in November.

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The Washington Post reports that Schiff’s efforts have “focused on consolidating support among his home base” in California, but that he “has not made an explicit ask for endorsements.” Instead, the Post says Schiff “is gauging members’ interest and planting the seed that leading the caucus is his goal.”

The outlet adds that Schiff has reached out to progressive and minority-led congressional groups but that the response to some of that outreach has been “tepid.”

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Other Democrats reportedly gunning to lead the House Democratic Caucus if Pelosi steps back include Democrat Reps. Steny Hoyer, James Clyburn, and Hakeem Jeffries.

A report from Vanity Fair this month details how “House Democrats don’t know how their top leadership ranks will shake out after the midterms. But there is a real appetite for generational change.”

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