Hawley Reintroduces PELOSI Act to Ban Congressional Stock Trading

Senator Josh Hawley has reintroduced the PELOSI Act, legislation aimed at banning members of Congress and their spouses from trading or holding individual stocks while in office, in response to longstanding concerns about insider trading and conflicts of interest among lawmakers. The act, named after former House Speaker Nancy Pelosi due to scrutiny over her husband's stock trades, has gained bipartisan support and would permit investments only in diversified mutual funds, ETFs, and U.S. Treasury bonds. Lawmakers would have 180 days to divest or move stocks into blind trusts upon passage or taking office. Those who violate the act would be required to forfeit profits to the U.S. Treasury and could face additional financial penalties imposed by ethics committees. The Government Accountability Office would be tasked with auditing compliance and reporting to congressional ethics bodies. Former President Trump has indicated he would sign such a ban if it reaches his desk.