Missouri Republican Rep. Mark Alford is set to introduce legislation that would ban members of Congress and their spouses from owning, buying, or selling individual stocks while in office. This bill serves as the House counterpart to Sen. Josh Hawley\u2019s \u201cPELOSI Act\u201d in the Senate. The measure allows investments only in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds. If passed, current members would have 180 days to comply, with new members required to follow the rules within 180 days of taking office. Alford emphasized the need for lawmakers to avoid even the appearance of corruption, criticizing suspicious stock trades based on non-public information. Under the proposed bill, any profits from improper stock transactions must be surrendered to the U.S. Treasury, and ethics committees could impose a 10% penalty for violations.<\/p>\n
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The push to ban congressional stock trading has gained bipartisan momentum. Former President Donald Trump has publicly supported such a ban, as have Democratic leaders including House Minority Leader Hakeem Jeffries and Rep. Alexandria Ocasio-Cortez. The legislation targets a longstanding controversy, with California Democrat Nancy Pelosi and her husband frequently criticized for well-timed stock trades. Paul Pelosi reportedly made between \\$1 million and \\$5 million trading semiconductor stocks just before Congress approved \\$52 million for the industry. Ocasio-Cortez co-sponsors the bipartisan Restoring Faith in Government Act, which bars members of Congress and their families from trading or owning individual stocks. She argues that such trading erodes public trust and that lawmakers with access to classified information should not be able to trade stocks based on it. The Pelosis\u2019 reported stock returns exceed 720% over the past decade, contributing to an estimated net worth of over \\$230 million. This legislation aims to increase transparency and restore faith in government ethics.<\/p>\n","protected":false},"excerpt":{"rendered":"
Missouri Republican Rep. Mark Alford is set to introduce legislation that would ban members of Congress and their spouses from owning, buying, or selling individual stocks while… <\/p>\n","protected":false},"author":2,"featured_media":6298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n