A Staten Island congressman is taking aim at the so-called “Volcker rule,” which bans banks from trading for their own benefit, arguing it could hurt average Joes just as much as it would impact Wall Street.

Rep. Michael McMahon (D-Staten Island) is leading a charge to strip the Volcker rule out of the financial regulatory reform bills being worked on by both houses of Congress, saying it will lead to less revenue for the city, which in turn means fewer police, firemen and teachers.

McMahon argues that the implications for the ban on so-called proprietary trading could have consequences not just for fat cat bankers but also for average folk, given the importance of Wall Street to New York and the national economy.

Introduced in December, the Volcker rule, which is named after former Federal Reserve chairman Paul Volcker, has bankers fretting that the provision may force them to spin off their profitable hedge-fund and private-equity operations.

McMahon is taking up the Volcker rule issue as many bank lobbyists have expressed frustration that Sen. Chuck Schumer, perhaps Wall Street’s most powerful advocate in Washington, has been publicly silent on many aspects of the fin reg bill legislation currently in Congress.

“As drafted, the Volcker rule is unworkable and will significantly disadvantage US-based institutions in the global marketplace, which will mean fewer jobs back here at home and less revenue for New York City that is used to pay for our cops, firefighters and teachers,” McMahon told The Post.

McMahon’s effort comes as reform bills from both the House and the Senate are being merged with expectations that lawmakers who will negotiate the terms of the bill will be officially named June 8, with an eye toward wrapping up the negotiations of the bill by June 29, according to sources.