There have been calls to make it illegal for members of Congress to trade stocks, and Republican Sen. Josh Hawley has delivered with a piece of legislation that’s perfectly titled:
Members of Congress and their spouses shouldn’t be using their position to get rich on the stock market – today l’m introducing legislation to BAN stock trading & ownership by members of Congress. I call it the PELOSI Act pic.twitter.com/aIXNwSnTvW
— Josh Hawley (@HawleyMO) January 24, 2023
Jonathan Turley notes that Sen. Hawley overcame “the greatest challenge” in titling The PELOSI Act:
Sen. Hawley has again introduced a bill to prevent members from trading stocks. https://t.co/pYgsvWeipq The greatest challenge may have been finding a title that spelled PELOSI ("Preventing Elected Leaders from Owning Securities and Investments Act")…
— Jonathan Turley (@JonathanTurley) January 25, 2023
Why are we guessing that many members of Congress will say this is a great idea but vote against it nevertheless?
Today U.S. Senator Josh Hawley (R-Mo.) reintroduced his bill to ban lawmakers from stock trading. The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act would prohibit members of Congress and their spouses from holding or trading individual stocks. The bill will require members found in violation to return their profits to American taxpayers.
“For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people. 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 Senator Hawley. “While Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hardworking Americans pay the price. The solution is clear: we must immediately and permanently ban all members of Congress from trading stocks.”
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“The PELOSI Act” is an incredible title.
Absolutely Savage. Lmao https://t.co/ziWe7JMWRB
— Swamp Lizard Hunting Squad (@PhaetonSiX) January 25, 2023
Senator Hawley scores again! https://t.co/ovdCU4zQdZ
— Mike Hudson (@mjhudson) January 25, 2023
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