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Investing.com-- A proposal by Senator Josh Hawley to ban stock trading by lawmakers is triggering tensions within the Republican Party and drawing resistance from the White House, Axios reported on Tuesday, citing sources familiar with the negotiations.
The bill, set for a committee vote on Wednesday, would extend the ban to the president and vice president, a move that has sparked concern from the White House over potential constitutional issues, the report said.
Hawley, seeking Democratic support amid opposition from Senate Homeland Security Chair Rand Paul, agreed to adopt language from a prior bipartisan bill that would subject the president and vice president to the ban, Axios reported.
The White House’s Office of Legislative Affairs reportedly objected to the last-minute inclusion, citing potential Article II concerns, the report stated.
The bill, dubbed the PELOSI Act, aims to bar members of Congress from owning or trading individual stocks. Hawley now plans to delay enforcement of the ban until the next term of office.
Axios reported that Paul confirmed his opposition, suggesting procedural tactics are at play to advance unrelated legislation.