President Donald Trump has voiced strong support for banning members of Congress and their spouses from trading stocks.
The White House emphasized this during a Thursday briefing, framing the initiative as a critical move to curb unethical financial gains by lawmakers.
Trump Administration Targets Pelosi’s Record
In its push for reform, the Trump administration has singled out former House Speaker Nancy Pelosi as a central figure in the debate.
Officials highlighted the significant growth of her personal wealth during her time in office as a key example of conflicts of interest that have eroded public trust.
The White House noted that despite a congressional salary of $174,000, Pelosi’s net worth has reportedly grown to approximately $413 million. Furthermore, it cited a reported 70% increase in her investment portfolio in 2024 alone, a statistic that has fueled renewed calls for stricter ethics regulations.
Related: Pelosi Eyes Support for Controversial Crypto Legislation Amid Democratic Opposition
“Honest Act” Legislation Advances in Senate
This focus on reform is materializing in Congress. The Senate Homeland Security and Governmental Affairs Committee recently advanced the “Honest Act,” legislation introduced by Missouri Senator Josh Hawley. The bill was originally titled the PELOSI Act, directly referencing the former Speaker.
If passed, the legislation would prohibit lawmakers and their spouses from owning or trading individual stocks. The act’s stated purpose is to eliminate any opportunity for personal enrichment derived from access to privileged information.
Pelosi Defends Trades as Scrutiny Continues
In response to the criticism, Pelosi has stated she would support a stock trading ban but has denied any personal wrongdoing. She clarified that her husband, Paul Pelosi, manages their investment portfolio independently and that she has no involvement in his trading decisions.
This hasn’t silenced critics. In a widely cited 2022 instance, Paul Pelosi purchased over $1 million in Nvidia stock. This happened just before Congress voted on a semiconductor subsidy. Although disclosed publicly, the timing fueled speculation about insider knowledge.
Related: White House’s Robert Hines on US Strategic Bitcoin Reserve: “We Do Believe in Accumulation”
Moreover, the White House says Trump’s support reflects broader public frustration. Many Americans feel lawmakers are exploiting their positions for financial gain. By endorsing the ban, Trump hopes to restore public confidence and hold elected officials to higher ethical standards.
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