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GOP faces split with Trump over defense, relief
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McConnell, GOP face double split with Trump over relief, defense
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McConnell, GOP Face Splits With Trump Over Defense, Relief Bloomberg 12/26/2020 Laura Davison and Billy House
(Bloomberg) Congressional Republicans, led by Senate Majority Leader Mitch McConnell, face high-stakes decisions in coming days over two giant pieces of bipartisan legislation that President Donald Trump savaged this week.
Trump on Wednesday vetoed a $740.5 billion annual defense spending bill, which passed both chambers of Congress with greater than two-thirds majorities earlier this month.
On Saturday, Trump tweeted that he will “not stand by and watch this travesty of a bill happen without reigning in Big Tech,” but the outcome of the legislation now rests with lawmakers. House Speaker Nancy Pelosi plans a vote to override that veto next week, with McConnell’s office pledging guidance on his intentions after the House acts.
Recent scrutiny has forced the issue of congressional stock trading into the limelight.
The potential conflict of interest is blatantly obvious. Lawmakers should focus on the most efficient legislation and not what might best serve their financial interests. Sure, some laws achieve both, but voters shouldn t have to worry if their Washington representatives stock portfolios would benefit from, or influence directly, their decisions as lawmakers.
A lawmaker who owns shares in America s big banks might have different views on banking deregulation, for example, said James Cox, professor of corporate and securities law at Duke University. We should be very concerned about the fact that if you re able to profit on individual stocks, it may impact the kind of decisions you ll make for your activities as a Senator, said Cox.
When They Buy/Sell, Lawmakers Play with Fire
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