Here are the details…
Republican Senator Josh Hawley unveiled a plan that will prevent lawmakers such as Nancy Pelosi, who has made millions off the stock market, from now trading stocks. Hawley claimed that lawmakers must “stop turning a blind eye to Washington profiteering” and all members of Congress must be banned from trading individual stocks.
According to Breitbart, Speaker Pelosi recently came under fire after she said that members of Congress and their family members should not be banned from trading because it was a “a free market economy.”
Pelosi’s comments came after over 50 Republicans and Democrats were caught failing to disclose their transactions as the Stop Trading on Congressional Knowledge (STOCK) Act demanded.
Some of the lawmakers who were guilty of breaking the rules were Sens. Dianne Feinstein (D-CA), Tommy Tuberville (R-AL), Mark Kelly (D-AZ), Cynthia Lummis (R-WY), and Reps. Dan Crenshaw (R-TX), Debbie Wasserman Schultz (D-FL), Sean Patrick Maloney (D-NY), and Pete Sessions (R-TX).
As a result Hawley filed legislation called the Banning Insider Trading in Congress Act which aims to prevent lawmakers and their spouses from trading and holding stocks.
Hawley stated, “Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating.”