Sen. Hawley Introducing Bill to Ban Lawmakers’ Stock Trading

Sen. Josh Hawley, R-Mo., on Thursday introduced a bill that would ban congressional lawmakers and their spouses from holding or trading individual stocks.                         

Any lawmaker found in violation of the Banning Insider Trading in Congress Act would be forced to “return their profits to the American people,” according to a statement from Hawley’s office on Thursday.

“Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating,” Hawley said.

“Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country. Here’s something we can do: ban all members of Congress from trading stocks and force those who do to pay their proceeds back to the American people. It’s time to stop turning a blind eye to Washington profiteering.”

The bill would “prohibit lawmakers and their spouses from holding, acquiring, or selling stocks or equivalent economic interests during their tenure in elected office.”

It would also give lawmakers and their spouses six months, upon assuming office, to divest any of the holdings or place them in a blind trust. 

Sen. Jon Ossoff, D-Ga., is also preparing to introduce legislation that would ban members of Congress and their spouses from trading the individual stocks of corporations, as many spend significant amounts of money lobbying the federal government and compete for lucrative government contracts.

House Minority Leader Kevin McCarthy, R-Calif., said he is considering limiting or barring lawmakers from holding or trading stocks and equities if Republicans gain a majority in the House in November.

Last week, the New York Post reported that House Speaker Nancy Pelosi, D-Calif., has raked in as much as $30 million personally from insider stock trades on the Big Tech companies she oversees in Congress.

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