President Trump criticized Senator Josh Hawley (R-Mo.) after Hawley accused fellow Senators of enabling a proposed ban on Congressional stock trading to target him.
The push to prevent lawmakers, including Hawley, from holding individual stocks has united Missouri Republicans with Democrats, leading to an 8-7 vote in the Senate Committee on Homeland Security and Government Affairs.
Trump compared it to sabotage, claiming Democrats have long attempted to “target” him due to his achievements. He suggested that they are manipulating Hawley for that purpose.
“A genuine Republican wouldn’t want to be associated with a president who’s had such extraordinary success just because of Hawley’s whims,” he remarked.
Hawley clashed with Senator Rick Scott (R-FLA.), a Trump supporter, during a committee meeting earlier in the day.
Scott argued, “The notion that they attack individuals for profit is entirely incorrect.” However, he also expressed agreement on the need to control stock trading.
He questioned how illiquid assets would be managed under Hawley’s proposal, who retorted that his suggested provisions were similar to a previous vote Scott had supported.
The proposed legislation, often referred to as the Pelosi Act, aims to prohibit lawmakers from buying or selling individual stocks.
Opposition from Committee Chair Rand Paul (R-KY.) has compelled Hawley to seek Democratic support and he reportedly expressed willingness to include language that would also restrict the president and vice president from trading.
Trump, meanwhile, expressed skepticism about the proposal. “Why would Hawley back a bill that benefits Nancy Pelosi? He’s aligning with the Democrats. It’s favorable for her and her partner, but detrimental for our country!” Trump stated.
He questioned why Republicans were obstructing reviews in Missouri of Scott’s proposals, which had backing from nearly all Republicans in the context of Pelosi’s trading activities over the last 25 years.
In a post earlier on Truth Social, Trump seemed open to the concept but cautioned that the intricacies needed careful examination. “I conceptually like it and am aware that Pelosi benefited financially from insider information,” he shared with reporters. “This just came to my attention, so I’ll be looking into it closely.”
He added, “My thought is that we need to investigate Nancy Pelosi.”
Paul Pelosi, a venture capitalist and Nancy Pelosi’s husband, has garnered significant earnings through investments over the years.
Pelosi’s estimated wealth is around $262 million, according to reports.
Critics, especially from the Republican side, have raised alarms about potential conflicts of interest given that Pelosi is a powerful figure in Congress.
A spokesperson for Pelosi responded to Trump’s remarks, stating, “Speaker Pelosi does not own any stocks and has no prior knowledge or involvement in any of these transactions.”
Hawley’s office was contacted for further comment.
