① USA President Trump stated that he would "absolutely" sign a bill to prohibit congressional members from trading Stocks if it came to his desk; ② There has been bipartisan support for legislation to restrict members of Congress from buying and selling Stocks, as they possess insider information and details about the legislative process, giving them an advantage over ordinary investors.
On April 26, the Financial Association reported (Editor Zhao Hao) that USA President Trump expressed he would "absolutely" sign a bill prohibiting congressional members from trading Stocks, stating he is concerned that lawmakers might exploit insider information for profit.
On Friday, April 25, local time, Trump stated during a media interview, "I have no objections to this. If they bring this bill to me, I will sign it."
For a long time, there has been support from both parties in the USA for legislation to restrict congressional members from buying and selling Stocks, as members can access confidential information and details about the legislative process, which gives them an edge in the stock market compared to regular investors.
US media have reported that 20% of congressional members engage in stock transactions related to their positions. A typical case was in 2020, when several senators traded Medical Stocks after a closed-door briefing on the COVID-19 pandemic, drawing widespread criticism.
Trump specifically named former House Speaker and Democrat Nancy Pelosi during the interview, stating that she opposed legislation to prohibit congressional members and their families from trading Stocks while serving as Speaker.
Although Pelosi herself does not trade Stocks, her husband, Paul Pelosi, became wealthy from his Real Estate and venture capital business in San Francisco, and the couple has faced criticism for multiple precise trades.
The Financial Association has reported on the Pelosis'...ROIAt one point, even surpassed the famous investor, known as the "stock god," Warren Buffett, which led to Pelosi being mocked by investors as the "stock god of Capitol Hill."
At the same time, Democrats also questioned whether Trump and his allies were involved in insider trading. Earlier this month, Trump posted on social media that "now is a great time to Buy." A few hours later, he announced a temporary suspension of the imposition of reciprocal tariffs for 90 days on certain countries.
Among Republicans, the most notable is Trump's staunch supporter, Republican Congresswoman Marjorie Taylor Greene from Georgia. While the stock market was experiencing panic selling due to the "reciprocal tariffs," Greene bought some stocks that had fallen significantly and sold U.S. Treasury bonds.
Pelosi's successor, House Democratic (Minority) Leader Hakeem Jeffries also stated that he supports banning personal stock trading by members of Congress, but currently there are no clear signs that related legislation is progressing. Republican Speaker of the House Mike Johnson has yet to indicate whether he will push for such a ban.
Under current federal law, members of Congress are prohibited from trading on insider information. The STOCK Act, passed in 2012, requires members to report trades within 30 days. However, the penalty for not reporting is only a $200 fine.
Editor/Rocky
