Senator Josh Hawley’s Crusade Against Congressional Insider Trading

In a revealing discussion on The Alex Marlow Show, Senator Josh Hawley (R-MO) shared his renewed commitment to combat what he views as rampant insider trading within Congress. He specifically targeted former House Speaker Nancy Pelosi (D-CA) for her questionable financial gains, which he attributes to her privileged access to sensitive information.

The PELOSI Act: A Bid to End Congressional Stock Trades

Senator Hawley has reintroduced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act, a legislative effort aimed at prohibiting members of Congress and their families from trading or holding individual stocks. Named after Nancy Pelosi, the bill highlights the former Speaker’s financial dealings, which Hawley argues could not have been achieved legally on her congressional salary alone.

“You don’t do it legally,” Hawley asserted, pointing out Pelosi’s extraordinary financial success, which he claims outpaced even the top hedge funds in 2024. “And everybody knows it’s the second thing. It’s just outrageous,” he added, suggesting Pelosi must have benefited from non-public information.

Addressing Systemic Corruption

The proposed legislation is designed to enforce transparency and accountability for both Republican and Democratic members of Congress, though Hawley identifies Pelosi as a particularly egregious example. He linked the issue of long-term incumbency in Congress with the exploitation of office for personal financial gain, a practice he believes runs counter to the intentions of America’s Founding Fathers.

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“Members of Congress leveraging the office to get rich is the farthest thing from what the Founders intended,” Hawley remarked, emphasizing the need for stringent measures to prevent such abuses.

Specific Provisions of the PELOSI Act

The PELOSI Act would allow Congress members to invest in broad-based mutual funds but would bar them from industry-specific funds and blind trusts, which Hawley argues are susceptible to manipulation. The bill also includes severe penalties for violations, including the disgorgement of all profits and significant financial penalties.

“If you’re a member of Congress, you shouldn’t be up here day trading. You should be focused on your job,” Hawley stated, underscoring the primary duty of lawmakers to serve the public interest.

Legislative Journey and Presidential Support

Despite previous setbacks, including a failure to secure a vote in the House, Hawley remains optimistic about the bill’s prospects, especially with President Donald Trump’s endorsement. Trump has expressed willingness to sign such a bill, particularly poignant given his adversarial history with Pelosi during his first term.

Hawley is adamant about the necessity of bringing the bill to a vote, to “put people on the record” and push for its passage. With Pelosi already having amassed her fortune, the focus is now on preventing future abuses by other lawmakers.

As the battle against congressional insider trading continues, Senator Hawley’s PELOSI Act represents a significant effort to restore integrity and trust in the United States Congress.