Senator Josh Hawley (R-MO) reintroduced the PELOSI Act on Friday, a bill aimed at banning members of Congress and their spouses from trading individual stocks. President Donald Trump signaled strong support, saying he would “absolutely” sign the legislation if it reached his desk.
The PELOSI Act, standing for “Preventing Elected Leaders from Owning Securities and Investments,” takes direct aim at corruption concerns fueled by high-profile scandals. Former House Speaker Nancy Pelosi and her husband’s multimillion-dollar stock trades have drawn national scrutiny, serving as a key catalyst for Hawley’s bill.
Hawley emphasized that elected officials should be fighting for the people, not day trading for personal profit. The bill would allow investments in mutual funds, ETFs, and Treasury bonds, but bar direct ownership of individual stocks. Lawmakers would have six months to comply or face financial penalties and mandatory forfeiture of profits to the U.S. Treasury.
The Government Accountability Office would audit congressional compliance within two years, reporting findings to ethics committees. A 2022 New York Times investigation revealed at least 97 members of Congress had trades intersecting with their committee work, fueling bipartisan outrage.
Polls show more than 80% of Americans support a ban on congressional stock trading, though previous attempts to pass similar legislation have stalled.
President Trump voiced clear approval of the effort, referencing Pelosi’s wealth accumulation through alleged insider information and declaring his readiness to sign the measure into law.
