Controversial Stock Deals: Top GOP Leader Wants to Ban Congressional Trading After Customs Debacle
Republican Party Leader Proposes Shutdown of Stock Exchanges Due to Import Dilemmas
Stock market shenanigans have taken the political limelight recently, all thanks to President Trump's rollercoaster customs policies. And it seems the controversial moves have stirred up discontent among some members of Congress, particularly Republicans.
Trump's radical swings in customs policies have led to significant swings on Wall Street. Investors have been making a killing off these price fluctuations, and it appears that some members of the U.S. Congress are no exception.
Congresswoman Marjorie Taylor Greene, a devoted Trump ally, has found herself in the hot seat after suspicions of insider trading. Just before Trump initiated a tariff rollback, she stacked up on stocks worth hundreds of thousands of dollars. Soon after, the value of these stocks skyrocketed, sparking questions about insider trading.
Greene purchased stocks in major tech companies like Apple and Amazon, as well as Merck, a pharmaceutical giant, at prices ranging from $21,000 to $315,000. Congress members are required to report their stock trades within 30 days in writing, but the exact volume of each trade isn't disclosed.
Cries for a ban on stock trading by lawmakers have grown louder since these events, with both parties demanding changes in the rules. Democratic minority leader in the House of Representatives, Hakeem Jeffries, has been vocal about enforcing such a ban. But a surprising ally has now joined the call—House Speaker Mike Johnson.
Johnson, a Republican who plays a critical role in the legislative process, has previously been evasive on the topic. However, recent events appear to have shifted his stance. He's now advocating for changes to prevent the appearance of impropriety.
Even President Trump, in a surprising turn of events, has expressed support for stricter rules regarding stock deals. If a law were passed by Congress, he stated that he would sign it.
Former House Speaker Nancy Pelosi has faced criticism over stock transactions, but these trades were attributed to her husband. Pelosi's husband, Paul Pelosi, heads a real estate and investment firm, and members of Congress are required to disclose the activities of close relatives.
If the rules were changed, Congress could swiftly implement stricter regulations. There are already several bills proposing tougher measures. In fact, before Trump took office, dozens of Democratic and Republican lawmakers had joined forces to introduce a proposal, the "Trust in Congress" Act. This legislation would prohibit members of Congress and their immediate family members from trading individual stocks. Instead, their portfolios would be managed by independent trustees.
- Stock trading
- Insider trading
- Nancy Pelosi
- Donald Trump
- Marjorie Taylor Greene
Insight: Ongoing Proposals to Ban Stock Trading by Members of Congress
Several ongoing proposals aim to ban stock trading by members of Congress. Here are some key developments:
- Democratic Proposals (2025): House Democrats are working to ban individual stock trading by members of Congress, with broad public support in battleground districts.
- Senator Jeff Merkley's Bill (2023): Proposing to prohibit members of Congress, the President, the Vice President, and their spouses and dependent children from acquiring stocks and cryptocurrencies.
- Bipartisan Efforts: Rep. Joe Neguse has led a bipartisan effort for four years to ban Congress members from trading stocks.
- Rep. Seth Magaziner's Bill: Co-introduced with Rep. Chip Roy (R-TX), this bill aims to address stock trading by lawmakers.
- New Proposals: Rep. Mark Alford's PELOSI Act (2025) targets lawmakers and their spouses from holding, purchasing, or selling individual stocks.
These proposals reflect a growing movement to address conflicts of interest and perceived insider trading among lawmakers.
- Members of Congress are facing increasing calls to quit stock trading due to perceived conflicts of interest and potential insider trading.
- House Speaker Mike Johnson, traditionally evasive on the topic, has recently advocated for stricter rules to prevent the appearance of impropriety, joining Democratic leader Hakeem Jeffries in demanding changes.
- Several ongoing proposals aim to ban stock trading by members of Congress. For instance, Senator Jeff Merkley's bill from 2023 aims to prohibit the acquisition of stocks and cryptocurrencies by members of Congress, the President, the Vice President, and their families.
