Republicans Introduce Bill to Stop Nancy Pelosi from Profiting Off Insider Trading

Missouri Republican Sen. Josh Hawley introduced a bill on Thursday to stop members of Congress from profiting from insider trading.

The bill, called the Banning Insider Trading in Congress Act, would prevent lawmakers and their spouses from holding, buying or selling individual stocks. The bill would allow for mutual funds and similar investments to continue.

“Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating. 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 act would prohibit members of Congress and their spouses from holding, acquiring, or selling stocks or equivalent economic interests during their tenure in elected office. Any holdings in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds are exempt from the prohibition.

It would also give members of Congress and their spouses six months, upon assuming office, to divest any prohibited holdings or place those holdings in a blind trust for the remainder of their tenure in office.

Further the act would ensure members or their spouses forfeit any investment profits to the American people via the U.S. Treasury if they are found to be in violation if the Act. Members who violate the requirements will also lose the ability to deduct the losses of those investments on their income taxes. The ethics committees of Congress may levy additional fines and will publicize violations.

The bill comes as 54 lawmakers, both Republicans and Democrats, failed to properly disclose stock transactions according to the STOCK Act.

Of course, the new legislation will face hurdles as many of the lawmakers voting on the bill are also among those who would be negatively impacted by it.

Minority Leader Kevin McCarthy (R-CA) said Tuesday that he would consider a ban on stock trades by members of Congress but did not endorse a specific plan.

“If you’re the Speaker of the House, you control what comes to the floor, what goes through committee, you have all the power to do everything you want — you can’t be trading millions of dollars,” McCarthy told The New York Post on Tuesday.

House Speaker Nancy Pelosi, on the other hand, has not joined in the talk to put a stop to lawmaker trading. Her husband is an investment manager who has made an estimated $30 million in stock trades during his wife’s time in Congress. The Pelosi’s net worth is estimated to be $100 million despite her making less than $200,000 a year as a member of Congress.

Americans shouldn’t be surprised that lawmakers find it difficult to pass a bill to ban stock trading among its members when those voting on the bill are making money from stock trades.

But Americans should be surprised that the actions have been tolerated for so long, from members of both parties.

It should be an obvious conflict of interest, but it has taken more than 50 members of Congress involved in stock trading to bring the matter to the point of introducing a law to stop it.


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21 thoughts on “Republicans Introduce Bill to Stop Nancy Pelosi from Profiting Off Insider Trading”

  1. It is about time we demand from our employees that which they demand of us. If I get caught inside trading I get sent to prison, Ala Martha Stewart, but the criminal Pelosi whose brother is a convicted felon, her father was one step ahead of a corruption charge, her Criminal Contacts in the MOB, it is time to get a special prosecutor and dig, really dig into lying Pelosi’s finances and put millions into the tax coffers. Investigate her husband as well and if one “T” is not crossed make him a guest of the state of California.

    1. It’s about time that someone in Congress got the balls to stand up to Pelosi and her secret maneuvering to run the Congress and NOT take care of the district that she was elected to represent.

  2. Pelosi, along with Schumer, Adam Shiff, and Jerry Nadler should all be rounded up for tyranny, corruption, despotism and censorship via social media against the entire US Constitution, not just this insider trading and while we’re at it, how about hundreds of thousands of white-collar business sector managers and stock brokers for trying to bust this country back in 2008, k? The MOB is not dead, the dying bosses just changed corruption leaders to members of Congress who would sell their souls to the devil for safekeeping, while hard-working Americans are caught in the middle.

    1. Don’t forget to include Pelosi’s son who is also corrupt. All the time wasted on trying to get Trump could have been used to actually file charges against Hillary, and Pelosi’s son, and Biden’s son…..Hillary wants to run again after killing our soldiers…..she is no better than Biden in regards to murder.

      1. All the time the Dems spent trying to find out if Trump cheated on his taxes, it seems no one was wondering how a public servant can be worth $30 million , yet again they accuse everyone else of the crimes they themselves are committing ( every single time !!!). Now the guilty gets to vote on whether they can continue to rob us. Hmmm I wonder on how that will turn out. FJB

  3. Eye-opening poll shows 59% of Dem voters want unvaccinated confined at home, 45% want them in ‘designated facilities,’ 48% demand fines or imprisonment for anyone who questions the efficacy of vaccines
    I say this to all of these asinine communist manures, you can take your confined at home and your designated facilities aka concentration camps and go back to HELL and LEAVE the USA, America is the land of the FREE not a slave to a DICTATOR like Biden the BUTCHER,
    I for one has a NATURE immunity and will not take your death shot vac that has killed thousands of Americans including children and babies!

  4. The law should also ban elected officials from owning real estate, bonds, and other property that is subject to benefit by their legislative actions….

  5. notice “spineless rino” mccarthy’s respose basically “non supportive” of Josh Hawley’s proposedbill!! mccarthy is a coward just like beijing mitch and the rino party members!! mccarthy is dirty and needs to go like mcconnell does!!

  6. You are totally correct Lou. I wish more conservatives would get their heads out of the sand and realize McCarthy s just another snake in the grass like his pals Mitch and coryn from my state Texas!!! He says he’s gonna start impeachment investigations of Biden when we take over the House …. Yea right. More bull shit promises just to get his speakership ! Hope he does, but I ain’t holding my breath! Rinos absolutely no different from a corrupt democrat

  7. No how do you expect Congress to pass anything like that ” thats one piece of the puzzle that makes them millionaire’s and of course their dirty closed door dealings along with special interest and of course being in the white house a lifetime ” we the people are the last things they care about ” Term Limits to them what’s that? It’s in the Constitution they are not supposed to serve anymore than two terms in public office ” the president can only serve only two elected terms I don’t recall seeing a president being in the white his whole life” we the people cannot expect Congress to pass any legislation that will stop them from inside trading making millions ” us American people should be allowed make the VOTE for them “

  8. Put Nutty Nancy in the same cell block as Hopeless Hillary and they can fight to see who wins president of the cell block.

  9. My question is why hasn’t this shit been expose years before now if the people knew this she wouldn’t be in where she is and the other dimwits as well, impeach all of them without any kind of pension and seize all their assets and give it back to the American People

  10. If such a bill is passed, it may also have the collateral effect of life-long politicians retiring so they can pursue more lucrative ventures. Two birds with one stone. Not a bad deal for the American People.

  11. I would only hope they follow thru. On any politician that abuses their authority for a greedy cause. Nancy Pelosi should be the geriatric poster lady for “Congressional Term Limits”. A prime example of what Legislators are capable of after being long ago compromised by the District of Corruption swamp politics. Our forefathers never intended for individuals to make a 20/30/40+ year career being a politician!. Pelosi, Waters, Nadler, Schiff, Biden, Romney etc…are but a few examples. Biden has been in politics for over 47 years. And on top of that, has never had a real job in the military or civilian sector. Between that and his mental incompetence, no wonder the United States of America feels they have no real leadership from the White House.

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