"Republicans and Trump criticize GOP leader's proposal for restricting stock trades"
Congressional Stock Trading Ban Makes First Hurdle, but Faces Uncertain Future
The Honest Act, a bill aimed at banning members of Congress, their spouses, and future presidents and vice presidents from trading stocks while in office, passed its first hurdle on July 30, 2025, with bipartisan support in the Senate Homeland Security and Governmental Affairs Committee [1][3][5].
Sen. Josh Hawley, the bill's sponsor, secured the support of all committee Democrats and was the only Republican member to vote for the legislation [1][3]. The bill differs from the earlier "PELOSI Act" in explicitly banning the president and vice president from trading stocks, but this provision would only take effect after the current president and vice president leave office (2029) [1][3].
Despite the initial success, the bill's future is uncertain. Senate Majority Leader John Thune expressed doubt about the bill getting floor time due to lack of Republican support [4]. The bill faces an unclear outlook in the Republican-controlled House of Representatives [3].
Opposition to the bill is mainly along partisan lines, with some Republicans opposing the presidential provisions. Sen. Rand Paul, the committee chair, called the bill "poorly written" [2]. Sen. Ron Johnson argued that lawmakers already have insider trading laws, and Sen. James Lankford noted that as chair of the Senate Ethics Committee, it's up to him to enforce the ban [2].
Sen. Hawley remains hopeful that his bill will advance, despite the opposition. He sees it as an exception to the typical lack of progress in banning lawmakers from trading stocks [2]. The bill includes a provision for a compliance audit every two years by the Government Accountability Office [1].
If passed, the Honest Act would mark a significant step towards addressing concerns about potential conflicts of interest in Congress and the executive branch.
References:
- CNN
- Fox News
- Politico
- The Hill
- NPR
- The Honest Act, having passed its initial hurdle, aims to restrict members of Congress, their families, and future presidents and vice presidents from stock trading while in office.
- As dialogue shifts towards policy-and-legislation, interest rates in the general-news may differ from the investments made if Congressional trading is banned, potentially impacting stock portfolios.
- Given the current political landscape, with the Senate Majority Leader expressing doubts about the bill's future and the House of Representatives being controlled by Republicans, the Honest Act's success remains uncertain.
- Trading for Congressional members might decrease, considering the ongoing discussions surrounding the Honest Act's potential implications, especially if the bill gets approved and changes the trading policy fundamentally.
