U.S. Senator Josh Hawley | Official U.S. Senate headshot
U.S. Senator Josh Hawley | Official U.S. Senate headshot
The Senate Homeland Security and Governmental Affairs Committee has advanced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act, which seeks to prohibit members of Congress from trading or holding individual stocks. U.S. Senator Josh Hawley (R-Mo.) is leading the effort.
The legislation would ban lawmakers and their spouses from purchasing, selling, or holding individual stocks during their time in office. They would still be allowed to invest in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds.
Senator Hawley commented on the move: “Americans have watched politicians earn a fortune using information not available to the general public while the average family struggles to get by. It’s just wrong,” Senator Hawley said. “Members of Congress should be focused on delivering results for their constituents, not returns on investments. It’s time to find out where members stand. It’s time we restore trust in Congress and ban all members from trading and holding stocks.”
Similar proposals have been introduced in recent years amid concerns about potential conflicts of interest among elected officials who trade stocks while serving in office.
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