Sen. Josh Hawley (R-Mo.) plans to introduce his own bill to prevent members of Congress from trading stocks, while Sen. Jon Ossoff (D-Ga.) teams up with fellow Democrat Mark Kelly (D-Ariz.), Axios has learned.
Why it matters: This means there will be now be two similar bills to ban stock trades individually championed by two vastly different lawmakers—further complicating the effort to pass a stock trading ban this session.
Between the lines: This comes after talks between Ossoff and Hawley's offices fizzled out, and Ossoff had sought a Republican co-sponsor before partnering with Kelly.
Both bills would prevent sitting lawmakers and their spouses from trading stock, but there are some differences between the two proposals:
“Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating," Hawley said in a statement to Axios. "It’s time to stop turning a blind eye to Washington profiteering.”
The bottom line: A stock trading ban already faced long odds, despite widespread public support, in part due to House opposition from Speaker Pelosi. Today's developments make those odds even longer.