Pelosi criticized for not setting vote on stock trading reform

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WASHINGTON (Nexstar) — A bill that would ban members of Congress from trading stocks seems stalled, with no vote scheduled before the U.S. House of Representatives goes on break.

With no vote Friday, the bill can’t be considered until after the November election.

Bill sponsor U.S. Rep. Abigail Spanberger, D-Va., lashed out at House Speaker Nancy Pelosi, D-Calif., on Twitter Friday, accusing her of sabotaging the effort.

“Her characterization is not accurate,” Pelosi said in her weekly press conference. “This is the legislative process. … I said to them … whatever the members want to do, I fully support.”

She said calls for reform were not ignored but that Spanberger’s bill did not have the votes needed to pass.

“There are others who have spoken out against it, the bill,” she said.

Some Republicans shared Spanberger’s frustrations. Sen. Josh Hawley, R-Mo., called Pelosi’s inaction “pathetic” and Rep. Rodney Davis, R-Ill., said he couldn’t agree more with Spanberger’s complaints.

Rep. Sean Casten, D-Ill., said reforms are needed to drive out corruption.

“As long as members of Congress are not only trading stocks, but consistently outperforming the market, there’s a lot of stink on that rose,” he said.

He said a long-term solution may need to include higher pay for lawmakers.

“If we don’t deal with this in the context of member pay, we are going to become ever more an institution that is only available to people who are independently wealthy before they got here,” he said.

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