
The issue of congressional stock trading has once again surfaced to the forefront of political discourse, fuelled by President Donald Trump's erratic tariff policies and a cohort of legislators who seem to be reaping the benefits from market moves they arguably could have foreseen. A bill that could end this financial practice, once tucked away in the folds of Capitol Hill's complex tapestry of legislation, is finding new life.
On one hand, lawmakers like U.S. Rep. Marjorie Taylor Greene, R-Ga, as reported by the Chicago Sun-Times, have been criticized for timely stock trades that align suspiciously close to Trump’s tariff announcements. On the other side, figures such as U.S. House Speaker Mike Johnson are being pressed to push legislation to the House floor to prohibit such stock trading by members of Congress. Heavily touted by the public, a bipartisan act dubbed the Bipartisan Restoring Faith in Government Act aims to put a definitive end to what many view as a conflict of interest.
Moreover, Trump has conveyed a seemingly uncharacteristic endorsement of the legislation, telling NPR that he would "absolutely" sign a bill that cuts the ability of members of Congress to buy or sell individual stocks. In the same breath, we have leading Democrats such as House Minority Leader Hakeem Jeffries, D-N.Y., echoing the call for action on this front, stressing the need to restore a sense of propriety to the halls of governance.
Support spans across the aisle, with legislators from both parties recognizing the damaging optics and potential breaches of trust involved in stock trading based on potential insider knowledge. Senator Josh Hawley, R-Mo., not failing to draft legislation aimed at the very issue, told NPR, "I think that this happens all the time. I do think that it makes the point." His PELOSI act – a clear dig at the former Speaker Nancy Pelosi – is a particular nod to the bipartisan desire to reshape the ethical landscape concerning stock ownership in Congress.
Despite the growing support, the proposal must overcome the hurdle of legislators who oppose giving up their stock trading privileges. Rhode Island Democrat Rep. Seth Magaziner, in a statement obtained by NPR, optimistically noted, "This is going to happen at some point, like the public supports it in polling by a 90 to 10 margin." The proposed bills emphasize transparency and are designed to allow officials to invest but in a manner removed from the possibility of leveraging privileged information – a change that could dramatically alter the future financial conduct of elected officials and restore faith in their roles as servants to the public good.