House Republican Moves to Force Vote on Congressional Stock Ban

A Republican took the first step toward triggering a House vote barring lawmakers and their spouses from trading individual stocks Monday — forcing leaders’ hands and increasing the chances of a long-sought ban during this Congress.

Rep. Anna Paulina Luna (R-Fla.) leapfrogged House Republican leadership and said she has filed a discharge petition, allowing her to force a vote on the measure if 218 lawmakers sign on. The legislation has broad bipartisan support but faces opposition from traders in Congress. Luna filed the petition after accusing Republican leadership of slow-walking the stock ban push and trying to water down proposed legislation.

The underlying bill (H. Res. 725), carries H.R. 1908, which is led by Rep. Tim Burchett (R-Tenn.), would prohibit members of Congress, their spouses, and dependents from trading individual stocks. The ban wouldn’t extend to the executive branch, though many Democrats have agitated for legislation to address President Donald Trump’s crypto and business interests.

This is the third discharge petition filed by a Republican this year. Three of the 10 efforts launched this year have gotten the requisite 218 signatures, a stunning success rate compared with past Congresses, when signing onto discharge petitions was basically verboten for members of the majority party. The procedural end-run around leadership has gained steam with narrow margins and empowered rank-and-file Republicans in the past two Congresses.

Senators from both parties are working on similar efforts in their chamber. Sen. Josh Hawley’s (R-Mo.) proposed stock ban advanced out of committee with Democratic support this summer, though Republicans on the panel argued it would discourage wealthy candidates from running for office.