Everyone Wants to Ban Congressional Stock Trades, but Some Supporters Worry Mike Johnson Is Stalling

The push for a congressional stock trading ban has gained momentum, but some proponents are growing increasingly concerned that House Speaker Mike Johnson is stalling the process.

On paper, the idea of banning congressional stock trades seems like a slam dunk: polls show supermajority support, bipartisan sponsors, and public backing from Johnson himself. But in Washington, nothing is as it seems.

Ahead of a House committee hearing on the flaws of current rules governing congressional stock trades, sponsors of a leading reform proposal are divided on whether the hearing itself represents a genuine step forward or merely a delay tactic from House leadership.

Some proponents worry that Johnson scheduled the hearing to placate them while kicking the can down the road on more concrete advancement - such as marking up and voting on the measure.

Johnson has expressed support for a stock trading ban, but also said he has "sympathy" for lawmakers who need to wheel and deal in stocks to support their families. This has led some critics to wonder if Johnson is stalling the process, rather than pushing it forward.

Public Citizen's Craig Holman told The Intercept that the bigger obstacle may lie in the Senate, where individual members have more sway and a group of Republicans have expressed their opposition.

The issue is particularly complicated when it comes to President Trump and his family - who continue to make lucrative deals in cryptocurrency and real estate despite being subject to no federal oversight.

While some lawmakers are pushing for stronger reforms, others are taking a more nuanced approach that acknowledges the complexities of the issue.

The Intercept's editorial board believes that Congress must take bold action to protect democracy and ensure accountability. Join us in supporting our independent journalism by becoming a member today.

I think it's pretty clear that with all the momentum behind this bill, Mike Johnson is playing a bit of a long game . On one hand, he's got the public on his side, which is awesome. But on the other hand, some folks are getting a little worried that they're not seeing any real progress. I mean, have you seen the hearing schedule? It looks like a whole bunch of stuff is getting pushed to the backburner .

Now, I'm all for a fair and level playing field when it comes to congressional stock trades. It's just basic fairness . But at the same time, I can see why some lawmakers might be hesitant to take on this issue head-on. I mean, they've got families to provide for too, right?

But what really gets my goat is how this all plays out with President Trump and his family . I mean, come on, if you're gonna make a big show about needing reform, can't you at least follow your own lead for once?

I'm kinda surprised that even with public support, there's still tension around this bill. It feels like we're stuck between a rock and a hard place - some lawmakers want to do something about it, but others are all about finding a compromise . And honestly, I get where both sides are coming from. We do need to make sure our leaders aren't using their positions for personal gain . But at the same time, we can't ignore the fact that some of these deals could be pretty shady . It's like, how far should lawmakers be allowed to mingle with Wall Street? I guess only time (and more heated debates) will tell if they'll actually get something done

omg i'm so frustrated with the politics right now they can't even agree on banning congress ppl from trading stocks lol but for real tho, it's like they're all just playing each other... and meanwhile trump's still making bank off his fam's deals https://theintercept.com/2023/12/15...g-its-ground-in-house-but-stalled-by-johnson/

im not surprised that proponents are getting worried about House Speaker Johnson's intentions. it seems like there's always some sort of backroom deal or delay tactic going on in Washington D.C. I think it's good that the hearing is happening, but at the same time, I'm skeptical about its real purpose. maybe it's just a way to placate the proponents and keep them from getting too worked up? the fact that Johnson has expressed sympathy for lawmakers who need to use their stocks to support their families does seem like a bit of an excuse , but I can see how it might be used to justify further delay. any way, the bigger obstacle is definitely the Senate - those guys are notoriously hard to crack .

I'm low-key salty about this whole thing... I mean, who doesn't think it's crazy that some lawmakers can just chill on the job while wheeling and dealing in stocks? It's like they're playing a high-stakes game of "I'm a public servant, but also a stock tycoon" - no thanks.

And yeah, the whole thing with President Trump's family getting away with their shady dealings is just another level of messed up. Like, shouldn't we be holding our leaders to some basic standards of accountability? It feels like there are more obstacles in the way than just a simple congressional stock trading ban.

I'm all for taking bold action and protecting democracy, but let's not pretend that this is gonna be easy...

I'm not surprised, I mean, have you seen those politicians' faces after they trade their stocks? They look like they just won the lottery... on purpose! For real though, it's crazy that some lawmakers are more worried about their family members getting rich off their trades than doing what's best for the country. Like, Mike Johnson said he supports a ban, but I'm pretty sure his wife is still invested in Netflix . And let's be real, who needs Congress to regulate their own stock trading? It's like they're trying to make us believe they're accountable... when really they're just wheeling and dealing behind the scenes .

I'm not sure I buy all this hype around banning congressional stock trades . I mean, on one hand, it sounds like a solid idea - who wouldn't want politicians to be transparent about their financial dealings? But on the other hand, can we really trust that these reforms would stick? The fact that House Speaker Johnson is stalling it just raises more questions... Is he doing this out of goodwill or just trying to placate the reform advocates while kicking the issue down the road? And let's be real, how much actual progress are we going to see if we can't even get a bill through the Senate .

I'm getting SO FRUSTRATED WITH THIS STOCK TRADING BAN PROPOSAL!!! IT'S LIKE, WE GET IT, IT LOOKS GOOD ON PAPER, BUT IN REAL LIFE, THINGS ARE COMPLICATED!!! I FEEL LIKE HOUSE SPEAKER JOHNSON IS PLAYING GAMES HERE... HE SAYS HE SUPPORTS THE IDEA, BUT THEN HE'S GOT THIS "SYMPATHY" FOR LAWMAKERS WHO NEED TO MAKE MONEY TO SUPPORT THEIR FAMILIES... IT JUST SEEMS LIKE HE'S KICKING THE CAN DOWN THE ROAD AGAIN!!! AND WHAT ABOUT PRESIDENT TRUMP AND HIS FAMILY?! THEY'RE STILL OUT THERE MAKING LUCRATIVE DEALS WITHOUT ANY FEDERAL OVERSIGHT... IT'S LIKE, WE NEED TO TAKE BOLD ACTION HERE! BUT AT THE SAME TIME, I GET WHY SOME LAWMAKERS ARE TAKING A NUANCED APPROACH... IT'S NOT THAT SIMPLE!!!

I feel like we're getting somewhere with this whole stock trading ban thing, but at the same time, it's super frustrating when people are all over the place about what's really going on . I get why Mike Johnson wants to hear from everyone before making a move - you can't just rush into something without understanding all the angles . But at the same time, it's hard not to feel like he's playing us like a fiddle when he says one thing and does another. The bigger issue is probably going to be getting some real bipartisan support across the aisle , which is super tough when you've got all these different opinions and interests at play .

I'm kinda surprised that even with all the public support, some lawmakers are still trying to stall this stock trading ban . It's like they're trying to make this issue as complicated as possible . I get it, there are complexities here and all, but we need some concrete action ASAP . The fact that Johnson is saying he has "sympathy" for lawmakers who can't separate their personal finances from work is kinda...understandable , but not exactly reassuring. And let's be real, the situation with Trump and his family is just a huge distraction . We need to focus on what really matters here: protecting democracy and accountability . It's time for Congress to step up their game ️!

omg i just got back from the most epic road trip with my squad, we drove through some crazy landscapes and stopped at this one tiny cafe that served the best vegan breakfast burritos i swear, it was love at first bite! anyway, back to congress... i'm all for them making changes but can't they just focus on something else for once? like, have you seen those adorable rescue puppies on instagram?

I don't buy it. Proponents of the ban say they have supermajority support, but is that really true? Have we seen any actual numbers or polls that show this level of support across all demographics?

And what's with Johnson scheduling this hearing just to placate his supporters? It sounds like a classic delay tactic to me. I need to see some real action on this, not just empty promises and committee hearings.

And let's be real, we know how politics works in Washington. Everyone has an angle or an excuse for why they're not moving forward with the ban. Can't we just get some facts on the table instead of all the spin?

I'm also curious about this "sympathy" from Johnson for lawmakers who need to wheel and deal in stocks to support their families. Is that really a valid reason to delay progress on this issue, or is it just an excuse for him not to push the ban through?

[Image of Pepe the Frog holding a " delayed" sign]

omg can't believe house speaker mike johnson is playing hard to get

[ GIF of a cat stuck in an endless loop ]

Senate republicans being their usual obstructive selves

[ Image of a stock market graph with a red X marked through it ]

can we just ban all congressional trades already?

[ GIF of a politician doing a " wheeling and dealing" gesture with a shocked expression ]

family first but democracy last, amirite?

[Image of the President's face with a question mark above his head]

is the senate really the bigger obstacle here?

idk why ppl think house leader mike johnson would intentionally stall this bill ... i mean, he's already on board with it. maybe the hearing just means they wanna have some real discussion about the flaws before moving forward? still got my eyes on that senate though... think it's a bigger hurdle to overcome

so like, i saw some stats on congress members' stock trades and it's wild did you know that 70% of congress members own at least one stock? and the top 10 richest senators have assets worth over $1.4 billion meanwhile, this proposal to ban congressional stock trades is getting stalled with a whopping 45% of americans in favor and 64% say they'd support stricter reforms the senate being the main hurdle right now makes sense tho

[Image of a "stalling" emoji with a " eyes wide open" meme, set against a Washington D.C. cityscape]

[Animated GIF of a clock running backwards , overlaid on top of a "delay" stamp ]

When the people want change, but the politicians are all like... [Image of a politician holding a briefcase and shaking their head]

omg i'm so frustrated rn! it's like they're saying all this stuff but not actually doing anything about it... if the speaker is trying to stall the process just for the sake of placating some lawmakers, that's such a cop out. i get that there are complexities and nuances to the issue, but come on, we need concrete action now! what's the point of having all this support and bipartisan backing if they're just going to keep kicking it down the road?