.RepChipRoy blasts Democrats for handling of stock trading bill
In a letter sent to Speaker Nancy Pelosi and House Administration Committee Chairwoman Zoe Lofgren , who unveiled the framework of the bill in a recent"Dear Colleague" letter sent to members of the Democratic caucus, the Texas Republican noted that he had initially helped spearhead bipartisan legislation with Rep.
Roy asserted that despite feeling more safeguards should be in place to prevent lawmakers from insider trading, he plans to vote against the bill “unapologetically” due to the process and said it lacks provisions addressing an array of problems that may arise if changes are made to how members can invest.
"Third, the bill Rep. Spanberger and I introduced was the start of a conversation that we should all want to have — but there are many complicated questions surrounding the issue we should resolve. For example, setting up blind trusts can be expensive. Perhaps there should be dollar thresholds considering the many implications of causing members to force sell assets, especially for less wealthy members of Congress — lest we discourage citizens from seeking to pursue public office.
“There are other bipartisan proposals that have been introduced beyond that which Rep. Spanberger and I introduced. Like all pieces of legislation, these proposals are imperfect, and they require input from every Member of the House before consideration. Per above, and moving forward, a number of reasonable questions surrounding these reforms that have been raised by Members must be addressed prior to any vote on respective legislation,” Roy wrote.
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