Trump Supports Stock Trading Ban for Officials
On Wednesday, President Donald Trump voiced his support for a potential ban on government officials owning stocks. This came as Republican Senator Josh Hawley from Missouri collaborated with Democrats to push for legislation that would restrict elected leaders from holding securities and investments.
In an interview with Daily Cole’s White House correspondent Reagan Lease, Trump stated that he is “conceptually” in favor of the ban and urged House Speaker Nancy Pelosi to look into stock trading practices involving elected officials. He remarked, “I like it conceptually. I don’t know about all the details, but I like the idea. Nancy Pelosi has made a fortune using insider information. It seems she has profited significantly alongside her husband. So, in that context, I support it. But I really need to analyze this more. Conceptually, it’s a good idea. I think Pelosi should be investigated, considering she has some of the best returns in the history of Wall Street. How does that happen? It appears she knows what’s about to happen, buys the stock, and then it climbs after the news breaks. She needs scrutiny.”
Pelosi and her husband, Paul, are currently under review as their stock trades continue to outperform industry averages. Notably, the former House Speaker’s portfolio outstripped the S&P 500 by nearly 200% in 2024, with her investments appreciating by 70% just between December 29 and December 30 of that year.
Following Trump’s request for an investigation, Pelosi stated that they back the proposed stock trading ban. “We admire the innovation of our Republican colleagues in crafting legislative proposals, but we also recognize the importance of ethical standards in public service,” she explained. “This revised integrity act extends the stock trading ban not only to members of Congress but also to the President and Vice President. I fully support this measure and anticipate voting for it in the House.”
Pelosi has denied all allegations of insider trading and previously advocated for the termination of certain stock trading practices among lawmakers. Support for the bill grew among Democrats and Hawley in the Senate Committee on Homeland Security and Government Affairs, where it passed with an 8-7 vote. The legislation had initially been introduced in January 2023 by Hawley.
Hawley expressed, “I practice what I preach. I don’t own individual stocks or trade them. I’m just not a billionaire like some others on this committee. I think Americans are sending us a clear message about this issue.”
