Sen. Josh Hawley has shed light on why President Donald Trump lashed out at him over legislation that would bar elected officials and their spouses from trading stocks.
Earlier this week, President Trump publicly criticized Hawley—an ally from Missouri—calling him a “second-tier” senator. The remarks came shortly after the Senate Homeland Security and Governmental Affairs Committee advanced Hawley’s bill targeting stock trades by members of Congress and other federal officials.
According to Hawley, confusion over the bill’s language sparked the president’s fury. Speaking with Business Insider’s Bryan Metzger and The New York Sun’s Matt Rice, Hawley explained that some Republicans misinformed Trump that the bill would force him to sell Mar-a-Lago and other personal assets.
“What he said is that he had a number of people call him and say that the bill had been changed at the last minute to force him to sell Mar-a-Lago and his assets, which is, of course, totally false,” Hawley said. “It exempts them.”
As written, the legislation would require officeholders to divest their stocks only at the start of their next term. Sen. Rand Paul (R-Ky.), chairing the committee, objected to this timeline, arguing it should apply to Trump as well.
Sen. Rick Scott (R-Fla.) also voiced opposition, attempting to include language that would trigger an investigation into former House Speaker Nancy Pelosi’s trading activity. As a result, Hawley ended up as the only Republican supporting the bill when it passed the committee.
“When we walked through the text of the bill, he was like ‘oh, okay,’” Hawley recalled. “And I said ‘your assets are all protected. I mean, it doesn’t apply. It applies to the next president.’ So, yeah. He finished by saying ‘you’re exonerated Josh, we love you.’”
Despite long-standing bipartisan calls for reform, stock trading bans have repeatedly stalled in Congress. Lawmakers like Sens. Elizabeth Warren (D-Mass.), Jon Ossoff (D-Ga.), and Steve Daines (R-Mont.), as well as Reps. Chip Roy (R-Texas) and Alexandria Ocasio-Cortez (D-N.Y.), have each backed versions of such legislation.
Hawley initially branded his bill the PELOSI Act to gain Republican traction. It was later renamed the HONEST Act. Ironically, Pelosi—still serving in the House—eventually endorsed the bill.
“The HONEST Act, as amended, rightly applies its stock trading ban not only to Members of Congress, but now to the President and Vice President as well,” Pelosi said. “I strongly support this legislation and look forward to voting for it on the Floor of the House.”
However, despite clearing committee, the bill faces slim chances of reaching the Senate floor soon. Lawmakers are preparing to recess, and upon return, Congress will be focused on passing spending bills to avert a government shutdown. The Senate also faces a packed calendar as it works to process President Trump’s outstanding nominations.
