Summary
President Donald Trump bought up to $1 million in Victoria's Secret bonds in December. This purchase is part of a series of financial transactions he made, totaling potentially over $100 million. A new bill aims to ban stock trading among members of Congress, but it does not apply to the president or vice president.
Key Facts
- President Trump purchased Victoria's Secret bonds worth between $250,000 and $500,000 in December.
- The total amount of his transactions could reach $160 million, given the high estimates.
- The 2012 STOCK Act requires public reporting of such financial transactions to prevent conflicts of interest.
- A new bill, the Restore Trust in Congress Act, proposes to ban stock trading for Congress members but exempts the president and vice president.
- The new legislation allows Congress members 180 days to sell stock holdings, while new members have 90 days after taking office.
- Some lawmakers oppose the bill due to its exemptions for the executive branch.
- House Minority Leader Hakeem Jeffries criticized the bill's loopholes, arguing for inclusion of the presidency in any ban.
