Hawley re-ups PELOSI Act, banning lawmakers from trading stocks

Senator Josh Holie, R-MO, is restored on Monday legislation that would prohibit members of Congress and their wives from commercial stocks while they are in office.

Holie presented “Pelosi law” in 2023, but failed to make progress during the administration of President Joe Biden. The proposal has gained popularity since then between legislators on both sides of the corridor, and President Donald Trump himself said last week that he would “fully” sign this ban if he came to his office.

“Members of Congress should fight for the people who were elected to the service – not trading a day at the expense of their voters,” Holie told Fox News Digital in a statement.

He added: “The Americans have seen the political after the politician achieved a profit using the information that is not available to the general public. It is time to prevent all members of Congress from trading, restoring shares, and restoring the confidence of Americans in the legislative body of our nation.”

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Hawly prohibited legislators and their husbands prohibited a contract, purchase or sale of shares throughout the legislator’s time in his position. The legislators will be allowed to invest in various investment funds, the boxes circulating on the stock exchange, or US Treasury bonds while they are in office.

If approved, current legislators will have 180 days to comply with legislation. Likewise, newly elected lawmakers must make compliance within 180 days of moving to office.

Holie appointed his bill after former spokeswoman Nancy Pelosi, who has great gains in the stock market while serving in Congress. (Screen shot/HBO)

Legislators who continue to conduct illegal transactions under the law will be asked to hand over any profits they have made to the US Treasury. Parliamentary ethics committees or Senate can also impose a fine on these legislators of up to 10 % of each illegal treatment.

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Trump himself supported the trading ban for members of Congress in an interview with Time magazine on Friday.

President Donald Trump says he will sign legislation that prevents members of Congress from trading stocks while they are in office. (AP/Alex Brandon)

He said about a commercial ban: “I saw Nancy Pelosi singing through information from the inside, and I will be fine with her. If they send it to me, I will do that.”

“Will you sign it?” Report pressure.

“Certainly,” Trump answered.

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The Democrats in the House of Representatives also expressed his support for a ban, as the leader of the minority in the House of Representatives, Hakim Jeffrez, threw his weight behind the proposal last week.

Read the full text of Pelosi Law below.