{"id":18016,"date":"2024-11-21T00:11:40","date_gmt":"2024-11-21T00:11:40","guid":{"rendered":"https:\/\/gpt.m2mbeta.com\/?p=18016"},"modified":"2024-11-21T00:11:40","modified_gmt":"2024-11-21T00:11:40","slug":"threads-posts-proposed-bill-banning-stock-trading-wouldnt-bar-trump-from-white-house","status":"publish","type":"post","link":"https:\/\/gpt.m2mbeta.com\/?p=18016","title":{"rendered":"Threads posts &#8211; Proposed bill banning stock trading wouldn\u2019t bar Trump from White House"},"content":{"rendered":"<div id=\"\">\n<p>President-elect Donald Trump\u2019s family business dealings could pose <a href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/11\/19\/trump-conflicts-of-interest-influence-businesses\/\" target=\"_blank\">ethical<\/a> <a href=\"https:\/\/www.nytimes.com\/2024\/10\/29\/us\/elections\/trump-foreign-business-presidency-conflicts.html\" target=\"_blank\">conflicts<\/a> in his second term, but a social media post said the U.S. Senate passed a law that bans him from returning to the White House in January.<\/p>\n<p>&#8220;BREAKING: the U.S Senate accidentally passed a bill banning Trump from Becoming President, and (President Joe) Biden is planning to sign it,&#8221; a <a href=\"https:\/\/ghostarchive.org\/archive\/ZynYH\" target=\"_blank\">Nov. 19 Threads post<\/a> said.<\/p>\n<p>The Threads post was flagged as part of Meta\u2019s efforts to combat false news and misinformation on its News Feed. (Read more about our <a href=\"https:\/\/www.facebook.com\/help\/1952307158131536?helpref=related\" target=\"_blank\">partnership with Meta<\/a>, which owns Facebook, Instagram and Threads.)<\/p>\n<p>The words and image in the Threads post originated in a <a href=\"https:\/\/archive.is\/bdR1e\" target=\"_blank\">Nov. 19 X post<\/a> from PoliticsVideoChannel, a self-described news and media company, whose <a href=\"https:\/\/x.com\/politvidchannel\" target=\"_blank\">X profile<\/a> says, &#8220;Facts matter!&#8221;<\/p>\n<p>We agree that facts matter and, in this case, the Threads post had not one fact right.<\/p>\n<div>\n<div class=\"u-push--bottom\" style=\"margin-bottom: 40px;\">\n<div class=\"m-borderbox__content sms-box\">\n<p><h3>Sign up for PolitiFact texts<\/h3>\n<p><iframe class=\"subtext-embed-iframe\" frameborder=\"0\" id=\"subtext_form\" scrolling=\"no\" src=\"https:\/\/joinsubtext.com\/politifact?form=true\"><\/iframe>\n<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>That X post had more than 1 million views by Nov. 20. In a long thread about the bill, it <a href=\"https:\/\/x.com\/politvidchannel\/status\/1858860009700175993\" target=\"_blank\">said<\/a> it referred to the Ending Trading and Holdings in Congressional Stocks Act, or ETHICS Act for short, and <a href=\"https:\/\/www.rosen.senate.gov\/2024\/07\/24\/in-committee-rosen-helps-pass-bipartisan-bill-to-ban-members-of-congress-from-owning-trading-individual-stocks\/\" target=\"_blank\">linked to a July 24 news release<\/a> from Sen. Jacky Rosen, D-Nev.<\/p>\n<p>But neither the Senate or U.S. House has passed the bill, so there is nothing for Biden to sign. And the bill would not prevent Trump from serving as president.<\/p>\n<div class=\"artembed\"><img decoding=\"async\" src=\"https:\/\/static.politifact.com\/politifact\/photos\/stockscreenshotpants.jpeg.png\"\/><\/div>\n<p><em>(Screenshot from Threads)<\/em><\/p>\n<p>The bill would immediately bar members of Congress, the president and the vice president from buying and selling securities, commodities, futures, options, trusts and other comparable holdings, a Homeland Security and Governmental Affairs Senate Committee <a href=\"https:\/\/www.hsgac.senate.gov\/wp-content\/uploads\/Summary-Member-Stock-Trading-Ban-Agreement.pdf\" target=\"_blank\">summary<\/a> said.<\/p>\n<p>Beginning March 31, 2027, those elected officials \u2014 and their spouses and dependent children \u2014 will have 120 days to divest from those assets.<\/p>\n<p>The Senate Committee on Homeland Security and Governmental Affairs on July 24 <a href=\"https:\/\/rollcall.com\/2024\/07\/24\/lawmaker-stock-trading-ban-legislation-advances-in-senate\/\" target=\"_blank\">voted<\/a> 8-4 to approve a <a href=\"https:\/\/s3.documentcloud.org\/documents\/24989856\/lew24315.pdf\" target=\"_blank\">revamped version<\/a> of S.1171, <a href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/senate-bill\/1171\/text\" target=\"_blank\">a bill<\/a> Sen. Jeff Merkley, D-Ore., introduced in April. Merkley, fellow Democrats Gary Peters, D-Mich., and Jon Ossoff, D-Ga., and Sen. Josh Hawley, R-Mo., <a href=\"https:\/\/www.youtube.com\/watch?v=jhRvng1rsmA\" target=\"_blank\">announced<\/a> agreement on the revamped legislation July 10.\u00a0<\/p>\n<p>The bill has not come up for a vote in the full Senate. The House has not taken action on the original bill.<\/p>\n<p>A Merkley spokesperson told PolitiFact in an email that the proposed law would not &#8220;ban&#8221; Trump from becoming president, but would require him to change his financial holdings to be in compliance.<\/p>\n<p>Trump is the largest shareholder in Truth Social, his social media company, and said he <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/113447949058695478\" target=\"_blank\">has no intention<\/a> to sell his stock in the company. But nothing in the bill\u2019s language would prevent Trump \u2014 or any Congress member \u2014 from serving for breaching the law. Instead, there are financial penalties.<\/p>\n<p>If the bill became law, violators would have to forfeit their monthly salaries or pay 10% of the value of each asset, whichever is greater, the bill\u2019s <a href=\"https:\/\/www.hsgac.senate.gov\/wp-content\/uploads\/Summary-Member-Stock-Trading-Ban-Agreement.pdf\" target=\"_blank\">summary<\/a> said. It would also raise penalties in the <a href=\"https:\/\/www.congress.gov\/bill\/112th-congress\/senate-bill\/2038\" target=\"_blank\">2012 STOCK Act<\/a> for failure to report holdings from $200 to $500 per violation.<\/p>\n<p>A U.S. Senate Committee on Homeland Security and Governmental Affairs spokesperson also said individuals would face fines until they comply with the divestment requirements of the law, if it&#8217;s passed. The Office of Government Ethics would have to assess Trump&#8217;s assets case by case, the spokesperson said.<\/p>\n<p>Our ruling<\/p>\n<p>A Threads post said, &#8220;The U.S Senate accidentally passed a bill banning Trump from becoming President, and Biden is planning to sign it.&#8221; The X post the claim originated from referred to the Ending Trading and Holdings in Congressional Stocks Act.\u00a0<\/p>\n<p>But nothing in that bill would keep Trump from being president. It advanced from a Senate committee and has not been scheduled for a full Senate vote. If the Senate and the House pass the measure and the president signs it into law, it would prevent members of Congress, the president and vice president from buying, selling and owning stocks. Violators would face financial penalties, but they would not be barred from office.<\/p>\n<p>We rate this claim Pants on Fire!<\/p>\n<\/p><\/div>\n<p><script>(function(d, s, id) {\n    var js, fjs = d.getElementsByTagName(s)[0];\n    if (d.getElementById(id)) return;\n    js = d.createElement(s); js.id = id;\n    js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&version=v3.0\";\n    fjs.parentNode.insertBefore(js, fjs);\n  }(document, 'script', 'facebook-jssdk'));<\/script><\/p>\n<hr style=\"border-top: 2px solid #ccc; margin-top: 20px;\">\n<p><em>Source: <\/em> <em><a href=\"https:\/\/politics.einnews.com\/article\/762407894\/Bl8dlwK5g_2ilZ3j?ref=rss&amp;ecode=kmfm9fDbRbj4OPCJ\">politics.einnews.com\u2026<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President-elect Donald Trump\u2019s family business dealings could pose ethical conflicts in his second term, but a social media post said the U.S. Senate passed a law that bans him from returning to the White House in January. &#8220;BREAKING: the U.S Senate accidentally passed a bill banning Trump from Becoming President, and (President Joe) Biden is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18016","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/posts\/18016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18016"}],"version-history":[{"count":0,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/posts\/18016\/revisions"}],"wp:attachment":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}