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At some point, the restrictions and limitations should cause Congress to ask an obvious question: Is all this worth the hassle?
Republican's proposal would ban Congress members and their spouses from trading individual stocks
Republican Rep. Pat Fallon of Texas is pushing legislation that would bar Congress members and their spouses from trading individual stocks.
According to a copy of the proposal posted by the Daily Caller, the text of the measure would prohibit lawmakers and their spouses buying and selling a "covered financial instrument," which the measure defines as a security "as defined in section 3(a) of the Securities Exchange Act of 1934."
The measure stipulates that certain vehicles such as mutual funds, exchange-traded funds, U.S. Treasury bills, bonds, and notes, and "any investment fund held in a Federal, State, or local government employee retirement plan" would not qualify as a "covered financial instrument."
The measure would allow for the spouse of a lawmaker to receive a "covered financial instrument" as payment for their work. "Beginning one year after the date on which a spouse of a Member of Congress is employed in the primary occupation of such spouse, such spouse may receive a covered financial instrument as compensation from such primary occupation during the period of employment at such occupation," the text of the measure reads.
Violators would be slapped with a fine of either "$25,000 per violation" or an amount equivalent to the value of the financial instrument that was sold or bought, whichever fine is larger.
"Undoubtedly some members seek to use their position to enrich themselves and their families. Still more make honest mistakes trying to navigate the often confusing reporting requirements. A cottage industry has sprung up in the media, often ignoring bad actors and instead excoriating innocent oversights for partisan reasons. To end all of this, we should simply pass legislation that, once and for all, makes it clear the sitting members of Congress are banned from trading individual stocks altogether," Fallon told the Daily Caller.
"The Insider Trading Prevention Act is a critical first step to restore the public's faith in Congress. This is clear, easy to understand and will eliminate altogether good faith errors and, more importantly, egregious self aggrandizement and insider trading," he noted, according to the outlet.
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With Lawmakers like this, what could go wrong — besides everything?
Ukrainian President. Volodymyr Zelenskyy addressed Congress this morning, partly in English, and seemingly tried, once again, to drag America into a third world war.
"We need you right now. Remember Pearl Harbor? The terrible morning of December 7, 1941, when your sky was black from the planes attacking you? I'm addressing President Biden. You are the leader. I wish you to be the leader of the world. Being the world leader means being the leader of peace," Zelenskyy said.
On Wednesday's episode of "Steve Deace Show," the popular segment called "What Happened While We Were Away" highlights recent moments that many would consider embarrassing. But our brave elected officials powered through their incoherent statements and lies with their chins held high, leaving the rest of us to wonder, what could go wrong — besides everything?
Last week, Nancy Pelosi held a press conference where she made the following statement:
"Putin is trying to bait the trap, and that could be the beginning of World War III. Putin is totally irresponsible in using weapons that are not allowed under the Geneva convention. Putin, who threatens use of chemical weapons, nuclear and the rest ... myself, when I see those tanks ... I'd like to take out those tanks ... but I am not a military strategist."
You are probably asking yourself, "what did I just read? Have I consumed alcohol and wasn't aware of it?" You aren't alone.
Watch the clip for more from Steve Deace. Can't watch? Download the podcast here.
. @SteveDeaceShow highlights recent moments of our brave elected officials that leave us all wondering: what could go wrong...besides everything? pic.twitter.com/upuP1btn0R
— TheBlaze (@theblaze) March 16, 2022
Bipartisan group of lawmakers present $908 billion coronavirus relief bill
A group of bipartisan legislators including members from both the House and Senate unveiled a $908 billion coronavirus relief bill on Tuesday in hopes of ending the months-long gridlock between Democratic and Republican leadership in reaching a deal the White House would also sign off on.
What are the details?
NBC News reported that the proposal "is designed to include elements that will satisfy both parties," but "it doesn't include some popular provisions, like another round of direct payments to families." It does include $180 to renew unemployment benefits, and $288 billion in support for small businesses.
But it also includes $160 million for state and local governments, which President Donald Trump has rejected in the past as a bail-out for blue states and cities that carried huge deficits prior to the crisis. In a nod to Republicans, the legislation would provide liability protections for businesses against COVID-19-related lawsuits in the "short-term," which Senate Majority Leader Mitch McConnell (R-Ky.) has cited as a priority.
The Democrats in the group include Sens. Joe Manchin (W.Va.), Mark Warner (Va.), Jeanne Shaheen (N.H.), and Maggie Hassan (N.H.), along with Reps. Abigail Spanberger (Va.), Dean Phillips (Minn.), and Josh Gottheimer (N.J.).
The Republicans involved are Sens. Mitt Romney (Utah), Susan Collins (Maine), Lisa Murkowski (Alaska), Bill Cassidy (La.), and Reps. Anthony Gonzalez (Ohio), Fred Upton (Mich.), Dusty Johnson (S.D.), and Tom Reed (N.Y.). The proposal is being presented in the Senate.
House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin have been in negotiations for months to reach a deal between Democrats and the White House, and the two spoke again on Tuesday. While all parties agree that relief is urgently needed, Democrats and Republicans have been far apart on priorities and price tags.
Senate Democrats have twice shot down a $500 billion COVID-19 relief bill offered by McConnell, and House Democrats have passed a $2.2 trillion package that is seen as a non-starter in the GOP-led upper chamber.
Also on Tuesday, McConnell offered a new proposal of his own, telling reporters at his weekly presser that he had spoken with Mnuchin and White House chief of staff Mark Meadows on presenting a bill palatable to President Trump, according to the Hill.
The Senate majority leader did not directly address the $908 billion bill presented by the bipartisan coalition, but explained, "We just don't have time to waste time. We have a couple weeks left here. Obviously, it does require bipartisan support to get out of Congress, but it requires a presidential signature."
Sen. Romney, who has often been publicly at odds with the president, said Tuesday that the bipartisan group has been in contact with Mnuchin about their plan, but noted, "I don't have any prediction on how the White House would react." He added, "Covid has created a crisis. And in crisis the people expect Congress to act."
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