Efforts to prohibit legislators from engaging in stock trades gain momentum as former President Trump voices support
Fresh Take:
May 8, 2025 - 8:12 AM CDT
It's rare to find common ground between President Donald J. Trump and House Minority Leader Hakeem Jeffries, but their recent backing of a bill to ban members of Congress from trading individual stocks might just be the exception.
The flurry of lawmakers stock trades following Trump's tariff announcement in April sparked concerns about insider trading. One name that caught the spotlight is Georgia GOP Rep. Marjorie Taylor Greene, who reportedly purchased significant amounts of stock around the tariff announcements and their subsequent pauses.
Greene defends her trades, stating that a financial advisor handles her investments. In her words, "I won't hide my stock trades like some others do." However, critics argue that such trades create a potential for corruption and are a distraction from the people's business.
Senator Josh Hawley, a staunch opponent of stock trading by lawmakers, has long advocated for a ban, introducing legislation to that effect. Despite not making it to the floor vote in previous attempts, Hawley remains hopeful about the potential for a bipartisan effort. His optimism stems from Jeffries' recent endorsement of the ban and growing public pressure for change.
Oregon Sen. Jeff Merkley was the driving force behind the effort in the last Congress, and Hawley plans to collaborate with him, along with senators from both parties, to push for a vote on the floor. Rhode Island Rep. Seth Magaziner, the lead sponsor of a bipartisan House proposal, believes they've gained more momentum in the last two weeks than in the last two years.
The main obstacle remains House Speaker Mike Johnson, who has shown openness to the idea but isn't convinced of a consensus. Texas Rep. Chip Roy and Pennsylvania Rep. Brian Fitzpatrick, along with progressive figures like NYC Rep. Alexandria Ocasio-Cortez, are working together to build support and finalize a combined bill that could garner significant bipartisan support.
The proposed legislation would not only ban lawmakers from trading individual stocks but also apply to their spouses. Some argue that the current rules, which require lawmakers to disclose any stock trades, are enough. However, proponents of a ban argue that it is essential to prevent conflicts of interest and enhance transparency in politics.
Sources:1. NPR, May 8, 20252. The Hill, May 7, 20253. Politico, May 6, 20254. CNN, May 5, 20255. Roll Call, April 30, 2025
- The potential bipartisan effort to ban members of Congress from trading individual stocks has gained momentum in recent weeks, driven by endorsements from President Donald J. Trump and House Minority Leader Hakeem Jeffries.
- Senator Josh Hawley, a proponent of the ban, remains optimistic about its prospects, citing Jeffries' recent backing and growing public pressure for change.
- Greene's stock trades, which she defends as managed by a financial advisor, have highlighted the potential for corruption and conflicts of interest created by lawmakers trading individual stocks.
- The proposed legislation would not only ban lawmakers from trading individual stocks but also extend the ban to their spouses, with proponents arguing that this is necessary to increase transparency in politics and prevent conflicts of interest.
