Proposed legislation to tighten rules on US politicians' stock holdings and trades should come together later this month, House of Representatives Speaker Nancy Pelosi told reporters at a news conference on Wednesday.
While Ms Pelosi characterised the unfinished legislation as “very strong”, she did not say during a weekly news conference whether congressional staff would be included under its provisions. She gave no details on what the bill will contain.
A House vote on the legislation would follow months of committees trying to put together a bill. Congress will go on a long break next month in the run-up to the November 8 midterm elections.
The bill's goal is to make politicians' financial dealings more transparent and impose new limits to tamp down on possible conflicts of interest.
Early on, Ms Pelosi voiced some reluctance to go ahead with measures that could possibly ban members of Congress from buying and selling stocks and tighten controls on other financial transactions.
But later she said the House would at some point advance a bill.
In July, some stock trades executed by Ms Pelosi's husband, Paul Pelosi, drew attention when he sold his shares of chipmaker Nvidia Corp days before the House was expected to consider legislation providing subsidies and tax credits worth more than $70 billion to boost the US semiconductor industry.
Mr Pelosi sold 25,000 shares of Nvidia for about $4.1 million, suffering a loss of $341,365, financial reports show.
What does the US Fed rate rise mean for UAE residents?
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Federal Reserve Chairman Jerome Powell holds a news conference following the announcement that the Fed raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, US. Reuters -
The Central Bank of the UAE also increased its base rate for the overnight deposit facility (ODF) by half a percentage point point. Photo: Central Bank of the UAE -
Residents with variable rate mortgages will feel the change as soon as their next monthly payment is due. Antonie Robertson / The National -
Changes to credit card interest rates are expected within a billing cycle or two. Antonie Robertson / The National -
Monthly instalments on personal loans and car financing are also set to rise. Razan Alzayani / The National
