PELOSI Act To Ban Stock Trading Among Congress Members
Sen. Josh Hawley(R-Mo.) on Tuesday introduced thePELOSI Act, or officially the Preventing Elected Leaders from Owning Securities and Investments Act, that would prohibit members of Congress and their spousesfrom holding or trading individual stocks.
The bill will require members found in violation to return their profits to American taxpayers.
What Happened: As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again." said Hawley.
While Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hard-working Americans pay the price. The solution is clear: we must immediately and permanently ban all members of Congress from trading stocks, he added.
Why It Matters:The PELOSI Act will impose the prohibition on lawmakers during their tenure in office but will exempt holdings in diversified mutual funds, exchange-traded funds, orU.S. Treasury bonds.
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