The caucus turned out in staunch opposition Wednesday to Republican Senator Josh Hawley’s proposed stock trading ban, causing a significant stir in the upper chamber after the White House flagged the bill as a bad idea.
Senator Ron Johnson torched the effort as “legislative demagoguery,” claiming Wednesday that banning lawmakers and their spouses from trading stocks would “make it very unattractive for people to run for office.”
At one point, Senator Rick Scott condemned the effort as “disgusting,” accusing Hawley of denigrating billionaires. But Hawley, seated next to Scott, had a firm response.
Committee Chair Rand Paul similarly opposed the bill, positing that any such ban would have made it impossible for Trump to be president. The Kentucky lawmaker admitted that he had scheduled a vote on the bill in a quiet quid pro quo: “To get two bills that I want passed through without being beleaguered by amendments,” he said in an interview with Axios.
“This was a last-minute deal struck to include the Executive Branch equities without touching base with the White House to discuss potential Article II concerns,” a White House official told Axios. “Any pause comes purely from potential Article II infringement, not the Congressional ban.”
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