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US House Votes to Ban Lawmakers from Buying Individual Stocks

US House Passes $1.1tn Pentagon Funding Bill, Advances Iran War Spending Plan

Ayobami OwolabibyAyobami Owolabi
3 weeks ago
in Government
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The United States House of Representatives has approved a $1.1 trillion military funding package, wrapping up legislative business before lawmakers begin a recess lasting more than a month.

The annual defence policy legislation, known as the National Defence Authorization Act (NDAA), passed in a 216-212 vote, with six Democrats joining Republicans in support. The bill will now move to the Senate, where its prospects remain uncertain.

Traditionally backed by lawmakers from both major parties, this year’s NDAA has become far more divisive, with Republicans arguing that it represents a significant investment in the country’s military.

They described the legislation as “a generational investment in America’s national defense” that “builds the fighting force of the future by prioritizing innovation, lethality, and readiness.”

Democrats, however, criticised the proposal, particularly its broader spending priorities.

US House Passes $1.1tn Pentagon Funding Bill, Advances Iran War Spending Plan

“The problem with this year’s defense authorization bill is that it comes with the inclusion of $1.15 trillion in discretionary spending,” Representative Adam Smith of Washington, the ranking Democrat on the House Armed Services Committee, said.

“I cannot and do not support meeting these needs by making massive cuts to critically important domestic programs and slashing taxes.”

The legislation now faces a tougher challenge in the Senate, where Republicans will require Democratic backing to overcome the chamber’s 60-vote threshold for most bills. Last week, Senate Democrats blocked consideration of an earlier version while demanding changes related to President Donald Trump’s military campaign against Iran.

The debate over defence spending comes as tensions between the United States and Iran continue to escalate. According to Defence Secretary Pete Hegseth, the conflict has already cost American taxpayers $37.5 billion.

In recent days, four additional US service members were killed, bringing the total number of American military deaths linked to the conflict to 18, while nearly 500 personnel have reportedly been injured. Fuel prices have also climbed, with the average cost of gasoline rising above $4 per gallon, according to AAA.

Separately, House Republicans approved a $95 billion budget framework by a 216-214 vote. The proposal includes more than $70 billion for operations related to the Iran conflict, $12 billion in support for farmers and funding to implement provisions of President Trump’s SAVE America Act.

The measure was advanced using the reconciliation process, allowing it to bypass the Senate’s usual 60-vote requirement, although its future in the upper chamber remains uncertain.

Lawmakers also approved the Stop Insider Trading Act in a 232-198 vote. The bill would prohibit members of Congress from purchasing new individual stocks while in office, though they would still be allowed to keep existing holdings, reinvest dividends and sell shares provided the transactions are publicly disclosed.

Several ethics organisations opposed the legislation, arguing that it leaves significant loopholes because it does not require lawmakers to divest existing investments or prevent them from benefiting from decisions that could influence the value of assets they already own.

Tags: federal characterFunding BillIran WarNewsPentagonUS House
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Ayobami Owolabi

Ayobami Owolabi

Owolabi Ayobami is an emerging entertainment journalist, dedicated to delivering the latest scoop on Nollywood, music, and celebrity culture. With a keen eye for detail and a passion for storytelling, he brings fresh insights and perspectives to the entertainment beat.

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