Rep. Steil says trading-ban legislation will help Americans regain trust in Congress
December 24, 2025 • 3m 55s
? (Host)
00:00.150
house
speaker
mike
johnson
has
committed
to
voting
in
in
the
new
year
on
that
legislation
that
would
ban
members
of
congress
from
trading
or
or
owning
individual
stocks
joining
us
now
with
the
details
of
the
legislation
republican
congressman
brian
style
he's
the
chairman
of
the
? (Host)
00:15.390
house
administration
committee
also
on
the
digital
your
subcommittee
on
digital
assets
so
we
can
talk
about
that
too
because
you
share
that
congressman
welcome
merry
christmas
happy
holidays
good
to
see
you
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
00:28.070
good
to
see
you
merry
christmas
thanks
for
having
me
on
? (Host)
00:30.270
what
was
that
in
two
thousand
twelve
the
stock
act
of
two
thousand
twelve
prohibits
public
officials
from
using
non
public
information
for
their
own
financial
benefit
we've
already
got
a
law
no
one
would
ever
do
that
some
of
the
returns
i've
seen
are
kind
of
interesting
that
? (Host)
00:47.910
that
we've
seen
from
certain
members
isn't
it
already
prohibited
congressman
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
00:52.630
the
the
law
in
twenty
twelve
the
stock
act
is
a
little
bit
like
elf
on
the
shelf
it's
watching
providing
information
but
i'd
like
an
adult
law
in
the
new
year
that
actually
prevents
members
from
profiting
off
of
insider
information
it's
about
making
sure
the
american
people
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
01:07.110
don't
even
have
to
wonder
what
their
member
of
congress
is
doing
if
you're
interested
in
day
trading
there's
a
place
for
that
it's
where
you
are
it's
wall
street
if
you
want
to
come
to
washington
DC
to
capitol
hill
that's
where
we
want
to
make
policy
and
so
we
have
an
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
01:20.350
opportunity
going
into
the
new
year
to
rewrite
the
rules
to
prevent
members
from
profiting
off
of
insider
information
to
prevent
them
from
buying
individual
stocks
and
i
think
it'll
be
one
step
forward
in
regaining
america
's
trust
in
the
institution
that
is
congress
it
? (Host)
01:36.670
is
a
little
disheartening
though
if
that
law
has
been
on
the
books
and
and
you
could
can
you
name
specific
instances
where
members
were
working
on
a
certain
you
know
whatever
chips
whatever
you
want
to
talk
about
can
you
do
you
think
there
have
been
specific
times
where
they
had
? (Host)
01:54.550
non
public
information
acted
on
it
and
and
had
i'll
gotten
gains
does
that
happen
again
and
again
and
again
with
members
of
congress
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
02:03.270
well
as
we
know
prosecuting
insider
information
charges
is
incredibly
difficult
but
we
could
look
back
to
before
the
pandemic
when
the
then
head
of
the
senate
intelligence
committee
made
a
call
to
their
broker
and
sold
all
but
one
stock
in
their
entire
portfolio
in
a
period
of
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
02:19.310
time
where
individuals
and
by
definition
if
you're
on
the
senate
intelligence
committee
you
do
have
sensitive
information
is
making
these
types
of
bold
and
big
transactions
ultimately
that
center
would
go
on
to
lose
their
job
but
we
should
have
a
blanket
prohibition
about
this
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
02:36.310
type
of
trading
the
disclosure
regime
has
set
forward
in
twenty
twelve
is
woefully
insufficient
in
my
opinion
and
we
have
a
big
opportunity
as
we
come
back
to
congress
to
right
this
wrong
to
make
sure
that
the
rules
on
the
books
are
actually
prohibiting
individuals
from
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
02:51.790
profiting
off
of
insider
information
doing
more
than
the
underlying
disclosure
regime
that
was
passed
in
twenty
twelve
? (Host)
02:58.800
the
honor
system
didn't
work
it's
it's
it's
just
that
simple
so
you're
did
speakers
john
johnson
will
bring
this
to
a
vote
early
next
year
and
what
you're
allowed
to
the
stock
you
already
own
you're
allowed
to
to
keep
but
you
just
can't
buy
new
ones
or
something
how
does
it
work
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
03:15.190
we're
finalizing
the
legislative
tax
what
i
want
to
do
with
this
legislation
is
not
simply
introduce
a
piece
of
legislation
which
has
been
done
time
and
again
on
capitol
hill
i
want
to
actually
make
sure
that
we
get
this
all
the
way
across
the
finish
line
and
signed
into
law
so
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
03:29.070
i'm
sitting
and
working
with
my
colleagues
making
sure
we
understand
what
each
and
every
one
of
them
needs
to
make
sure
we
get
this
done
what
i
mean
by
that
is
is
this
strict
enough
do
we
have
the
rules
the
penalties
in
place
that
are
needed
to
make
sure
that
we
can
get
this
Bryan Steil (U.S. Representative (R-WI) / Chairman of the Committee on House Administration)
03:43.390
piece
of
legislation
done
crossed
the
line
we're
continuing
those
conversations
i
hope
in
the
new
year
and
it's
a
commitment
i
think
from
speaker
johnson
as
well
that
we're
going
to
be
in
a
position
to
move
this
forward
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