House Democrats will file a discharge petition in January to force a vote on a plan that would bar members of Congress, the president, the vice president and immediate family from trading individual stocks. The effort responds to criticism that a bipartisan Magaziner-Roy bill excludes the executive branch; Rep. Seth Magaziner has filed a broader version backed by Hakeem Jeffries. With 213 House Democrats, the petition still needs at least five Republican signatures to reach the 218 required, leaving its prospects uncertain while Democrats remain divided over a separate petition filed by Rep. Anna Paulina Luna.
House Democrats To File January Discharge Petition To Force Vote On Broad Stock-Trade Ban
House Democrats plan to file a discharge petition in January to force a floor vote on legislation that would bar members of Congress, the president, the vice president and their immediate family members from owning or trading individual stocks.
Why This Is Happening
The move responds to criticism that a bipartisan bill — the Restore Trust in Congress Act, introduced by Rep. Seth Magaziner (D-R.I.) and Rep. Chip Roy (R-Texas) — would prohibit only lawmakers, their spouses, dependent children and trustees from trading individual stocks while leaving the executive branch untouched.
Magaziner said he has introduced a broader measure that explicitly extends the prohibition to the president and the vice president, and that House Minority Leader Hakeem Jeffries (D-N.Y.) backs the proposal.
Political Math And Prospects
Even if all 213 House Democrats sign the discharge petition, the measure still needs at least five Republican signatures to reach the 218 required to force consideration on the House floor. It is uncertain whether Republicans will provide the necessary support.
Magaziner suggested some Republicans might back a petition that includes the president and vice president, particularly later in the year as more members complete their primaries or announce retirements.
Competing Petition And Party Divisions
Earlier this month, Rep. Anna Paulina Luna (R-Fla.) filed a separate discharge petition to advance the Magaziner-Roy bill. Democrats remain split about endorsing Luna’s petition: as of Wednesday evening, 57 Democrats and 15 Republicans had signed it.
"If she’s interested in dealing with corruption, do something about the active ongoing crime scene coming out of 1600 Pennsylvania Ave., the most corrupt administration in American history. And it’s not even close," House Minority Leader Hakeem Jeffries said, arguing any meaningful ban should include the executive branch and citing figures such as Donald Trump and J.D. Vance.
Magaziner said he supports both discharge petitions and urged colleagues to sign them: "My posture is that I support both discharge petitions, and I urge everybody to sign both."
At this stage, it remains unclear whether either petition will gather the bipartisan support needed to reach the House floor.
