House Speaker Mike Johnson has voiced his support for legislation that would prohibit stock trading by members of Congress, stating concerns about appearances of impropriety and past abuses. This growing movement, also backed by House Minority Leader Hakeem Jeffries and the House Freedom Caucus, stems from reports that lawmakers, including notable figures, have made significant gains during volatile market times. Despite existing regulations under the STOCK Act prohibiting insider trading, Johnson believes further measures are needed to uphold congressional integrity.
On balance, my view is we probably should [ban stock trading] because I think it's been abused in the past.
You want me to tell you my honest opinion on it? I'm in favor of that, because I don't think we should have any appearance of impropriety here.
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