But instead of accepting Spanberger’s action, Pelosi sent California Democrat Rep. Zoe Lofgren and the chairman of the Board of Trustees to draft another bill. One of her requirements for the Speaker, she said, is to cover not only Congress but also the judiciary.
or SpecificationThe bill, which was announced late Tuesday, would eliminate most financial transactions for lawmakers, their spouses, dependent children, senior staff aides, and federal judges, including Supreme Court justices. This allows owners to retain their investments through financial holding structures known as blind trusts, where the owners have no idea how their assets are managed. Family run.
Lawmakers have six months to dispose of their personal stock holdings. The bill also increases the fees that members must pay for noncompliance and gives the Department of Justice the power to bring civil lawsuits against violators.
Some ethics experts hailed the bill as an important step in restoring confidence in Congress.
“While there is room for improvement in terms of the scope of officials covered and potential loopholes, the bill does meet voter demands for reform,” said Trevor Potter, president of the Campaign Legal Center. statement on thursday.
But others believe that Congress and other government agencies Vote to allow members to hold other types of mutual funds they considered acceptable. Skeptics also argued for stronger disclosure requirements.
The blowback was also coming from inside the house. 15 Republicans Letter to Lofgren On September 16, they complained that they had not been meaningfully included in negotiations on the bill, intending to score “cheap political points rather than pass sound policies.” claimed to be.
At the same time, some Democrats said they were completely excluded from Lofgren’s legislative process. Many lawmakers had little chance to consider the bill until Mr. Hoyer announced that it would be shelved.