Republican Members of Congress Oppose Kevin McCarthy’s Proposal to Limit Insider Trading

After House Minority Leader Kevin McCarthy (R-Calif.) proposed possible new legislation to limit the practice of insider stock trading among members of Congress, even some within his own ranks have anonymously voiced their opposition to such a plan.

As reported by the New York Post, McCarthy first made the suggestion to Punchbowl News, suggesting such a bill as one of many things he would want to see introduced if the GOP retakes the majority in November. Among other things, his proposal would restrict members to only holding professionally managed funds, as well as prohibit lawmakers from owning stocks in companies that are overseen by committees they serve on.

McCarthy pointed to the example of House Speaker Nancy Pelosi (D-Calif.), who has a net worth of over $100 million, and whose husband was found to have traded millions more worth of tech stocks. “I just think if you’re the Speaker of the House, you control what comes to the floor, what goes through committee, you have all the power to do everything you want,” McCarthy said on Tuesday. “You can’t be trading millions of dollars.”

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‘You Broke the Military’: Milley, Austin Set for Second Congressional Grilling on Afghanistan

Top American military leaders are set for another round of intense congressional grilling on Wednesday, following a day-long Tuesday session that at times featured blistering criticism of their part in the U.S. exit from Afghanistan.

The Tuesday hearing placed on the griddle Defense Secretary Lloyd Austin; U.S. Central Command Chief Gen. Frank McKenzie; and Chairman of the Joint Chiefs of Staff Gen. Mark Milley.

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