TALLAHASSEE, Florida — Gov. Ron DeSantis wants the state to take steps to discourage members of Congress from trading stocks, a topic that has seemingly divided Florida’s Hill delegation ahead of a potential vote in the House.
DeSantis, during an event in Clearwater with GOP Rep. Anna Paulina Luna, gave his full backing to Luna’s proposed ban on individual stock trading for members. But he also said he is seeking state legislation to require people running for Congress in Florida to disclose ahead of time whether they intend to trade stocks if they are elected.
During his press conference, DeSantis called individual stock trading a “bipartisan ailment,” adding, “We need to clean both houses up there.” He said members have either gotten windfalls — or avoided major losses — that defy normal investment patterns.
In a social media post, he added that “it is a farce how some members of Congress — including but not limited to Nancy Pelosi — suddenly become Warren Buffet on steroids when it comes to investment returns.”
DeSantis acknowledged the state has limited authority to place restrictions on Florida’s congressional delegation. But he wants to require candidates to answer a question about stock trading on forms that are submitted at the time they qualify for the ballot.
He said that would at least let voters know ahead of time what plan they to do. The governor added that such a requirement wouldn't really work for state legislators because they are only on the job part-time and many work in the financial sector.
DeSantis also called on Florida’s congressional delegation to vote for Luna’s bill. Several Florida members signed on to a discharge petition, but it’s not clear if all 28 will ultimately support the legislation.
Luna said she’s spoken to House Speaker Mike Johnson and she anticipates that her bill will be taken up during the first three months of the year.
“It’s wrong and it needs to stop,” Luna said about individual stock trading.
DeSantis’ support for the measure is not a surprise given his ongoing criticism of Congress. He has also advocated for congressional term limits.
The governor made his stance amid the backdrop of 2026 elections, where the Republican front-runner for governor, Rep. Byron Donalds, has been dinged over his stock trading. Donalds has said previously that he relies on a financial adviser managing his IRA without his input and that brokers who work for congressional clients should be required to publicly submit notes that would show whether members are directing trades.
Donalds has been hit with ethics complaints alleging that he failed to disclose more than 100 stock trades in a timely fashion as required by federal law. He said during a radio interview in December that he would vote for Luna’s bill, even though he wants a carve-out to allow stock trades if it is done by a broker on behalf of a member.
from Politics, Policy, Political News Top Stories https://ift.tt/NYP7VKB
https://ift.tt/wnh21Il
0 Comments