Hawley Introduces PELOSI Act to Ban Stock Trades for Lawmakers and Their Spouses

Senator Josh Hawley has introduced legislation that would ban lawmakers in Congress from making stock purchases or trades – dubbed the Preventing Elected Leaders from Owning Securities and Investments – or PELOSI – Act.

The Act gives new members and their spouses six months after first assuming office to divest any holdings or put them in a blind trust.

Should any members or their spouses be found in violation of the Act, they would be directed to “forfeit any investment profits to the American people via the U.S. Treasury.”

“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,” Hawley said in a statement. 

The Missouri lawmaker noted that members of Congress have an uncanny ability, with the knowledge they have of certain market sectors, to outperform the market time and again.