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It's the trading frenzy that saw some unlikely companies' stocks soar. Now members of Congress want answers, including Wisconsin's Bryan Steil.
"We're going to have to get answers to what exactly played out," said Steil.
Retail investors chatting online pushed the price up of stocks like GameStop and Milwaukee-based Koss, leaving investors who had bet the stock's value would go down, in a tough spot.
A local Congressman is joining an effort among lawmakers in Washington to promote policies that strengthen capital markets and support a growing, dynamic economy. Bryan Steil of Janesville says the "Investing in Innovation Initiative" will act as a think-tank to come up with legislation to more fairly inspire investment. Steil says current investment favors companies with access to big banks like those in New York. The Republican says he wants to support businesses in small town American have similar opportunity.
WASHINGTON, D.C.—House Financial Services Committee members Bryan Steil (WI-01) and Jake Auchincloss (MA-04) introduced H.R. 2710, the Banking Transparency for Sanctioned Persons Act. H.R. 2710 requires the U.S. Treasury Department to regularly report to Congress any sanctions waivers provided to allow transactions between financial institutions and targeted individuals.
WASHINGTON, D.C.—Today Congressman Bryan Steil (WI-01) joined former Secretary of State Mike Pompeo and Republican Study Committee (RSC) members to introduce the Maximum Pressure Act. This bill enforces and strengthens sanctions on the Iranian Regime. Two of Steil's bills, the Stop Evasion of Iran Sanctions Act and the No Sanctions Relief for Terrorists Act are included in the Maximum Pressure Act.
WASHINGTON, D.C.—Congressman Bryan Steil (WI-01) released a statement following the reintroduction of Congresswoman Alexandria Ocasio-Cortez's Green New Deal in the U.S. House of Representatives.
WASHINGTON, D.C.—Today following a virtual press conference, House Financial Services Committee member Congressman Bryan Steil (WI-01) launched the Investing in Innovation Initiative. Founding members of the Investing in Innovation Initiative include Reps. Ann Wagner (MO-02), Andy Barr (KY-06), Steve Stivers (OH-15), Warren Davidson (OH-08), Anthony Gonzalez (OH-16), and William Timmons (SC-04). You can watch the press conference here.
JANESVILLE, WISCONSIN—Congressman Bryan Steil (WI-01) is urging President Joe Biden to fully reopen the National Personnel Records Center (NPRC) and immediately fix the NPRC's backlog of services requested by veterans.
JANESVILLE, WISCONSIN—Congressman Bryan Steil (WI-01) called on the Internal Revenue Service (IRS) to immediately fix delays in Employer Identification Number (EIN) applications. EINs are required to hire employees and are an essential step for starting a new business.
WASHINGTON, D.C.—Today, Congressman Bryan Steil (WI-01), Congressman Greg Steube (FL-17) and Republican Study Committee (RSC) Chairman Jim Banks (IN-03) led a letter to U.S.