01/24/2023 | Press release | Distributed by Public on 01/24/2023 13:01
Today U.S. Senator Josh Hawley (R-Mo.) reintroduced his bill to ban lawmakers from stock trading. The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act would prohibit members of Congress and their spouses from holding or trading individual stocks. The bill will require members found in violation to return their profits to American taxpayers.
"For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people. As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again," said Senator Hawley. "While Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hardworking Americans pay the price. The solution is clear: we must immediately and permanently ban all members of Congress from trading stocks."
View bill text here.
The PELOSI Actwill:
Senator Hawley originally introduced the Banning Insider Trading in Congress Act last Congress.