Sen. Josh Hawley, R-Mo., is reintroducing legislation Monday that would ban members of Congress and their spouses from trading stocks while in office.
Hawley introduced the "PELOSI Act" in 2023, but failed to make progress under President Joe Biden's administration. The proposal has since gained popularity among lawmakers on both sides of the aisle, and President Donald Trump himself said last week that he would "absolutely" sign such a ban if it came to his desk.
"Members of Congress should be fighting for the people they were elected to serve—not day trading at the expense of their constituents," Hawley told Fox News Digital in a statement.
"Americans have seen politician after politician turn a profit using information not available to the general public. It’s time we ban all members of Congress from trading and holding stocks and restore Americans’ trust in our nation’s legislative body," he added.
Hawley's ban would prohibit lawmakers and their spouses from holding, purchasing or selling stocks for the duration of the lawmaker's time in office. Lawmakers would be allowed to invest in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds while in office.
If passed, current lawmakers would have 180 days to comply with the legislation. Likewise, newly elected lawmakers must achieve compliance within 180 days of entering office.
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04.28.2025