Whether we like it or not, members of Congress are allowed to buy and sell stocks. Do you trust it is all above board?
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Whether we like it or not, members of Congress are allowed to buy and sell stocks.
Yes, federal law prohibits them from using “nonpublic information derived from their official positions for personal benefit,” and they are required to disclose their trades.
Now, you may cast a side eye at whether the “inside” information shared in the hallways of Washington is utilized for buying and selling securities. And that’s fair.
Hackles were raised when President Donald Trump announced on April 9 that it “is a great time to buy stocks,” just prior to announcing a reversal on reciprocal tariffs. The Dow jumped 9.5 percent by the end of the day after the announcement and begs the question of whom may have benefited.
In the days after PoliticsPA published a story about the trading habits of Rep. Rob Bresnahan (R-08), the freshman NEPA representative has done a 180° and last week introduced the Transparency in Representation through Uniform Stock Trading Ban (TRUST) Act — legislation to ban stock trading for members of Congress.
Bresnahan, who ran on a pledge to ban such activity, wants to restore public faith that elected officials are not benefiting from work discussions.
“The public should never have to question whether their elected officials are serving the public or their own portfolios,” said Bresnahan. “I am introducing the TRUST Act to restore the integrity Americans expect and deserve from their government. This legislation allows for new levels of transparency and is a safeguard to ensure Washington works for the people.”
If enacted, H.R. 3182 would go into effect at the start of the 120th Congress in January 2027. To comply with his new legislation, Rep. Bresnahan is working with the House Committee on Ethics to move his personal holdings into a blind trust.
“Members of Congress should not be allowed to profit off the information they are entrusted with – this is a belief I have held since before taking office, and this belief has not changed,” continued Bresnahan. “I have never traded my own stocks, but I want to guarantee accountability to my constituents. That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone.”
The TRUST Act would:
The legislation would not require Congressional members and their spouses to divest of existing covered financial instruments; any covered financial instrument a member and their spouse own upon assuming office are grandfathered in. Additionally, the legislation would not apply to covered financial instruments held in a qualified blind trust.
According to a 2025 Gallup survey, 62 percent of Americans own publicly traded stocks – either directly or indirectly – for example, through a retirement account or mutual fund.
The Federal Reserve’s Survey of Consumer Finances (SCF) reports that just 21 percent of American families own shares directly.
Compare this to the 118th Congress where only five percent of senators and representatives combined did not own stock. Of those who own securities, 59% are Republican and 41% are Democrats.
For the 79% that may not be familiar, there are two (2) types of accounts that are available to clients of financial advisers for the purchase of securities.
A brokerage account is a commission-based investment account that is generally utilized by a client who wants to hold securities for safekeeping with occasional trades. It acts as a middleman between the client and the financial markets, facilitated by a brokerage firm. With these accounts, the advisor may provide occasional recommendations about investments (stocks, bonds, mutual funds), but the client makes the final decisions. Because of this, the broker will need to obtain specific instructions regarding the number of shares and timing before executing any transactions.
Brokerage accounts typically do not require a fee to open nor maintain the account.
Advisory Accounts or Managed Accounts are generally used by clients who pay a fee for ongoing active management instead of a commission for each trade. This appears to be the account utilized by Bresnahan.
“Rep. Bresnahan does not trade his own stocks, he has a financial advisor like millions of Americans,” said spokesperson Hannah Pope.
Bresnahan’s advisor made 52 “sell” transactions on April 7 – the day the PoliticsPA story first appeared – worth approximately $563,000. The largest transactions were sales of Accenture PLC (ACN), Advanced Micro Devices (AMD), Occidental Petroleum Corp. (OXY), Pfizer (PFE), and Texas Instruments (TXN) worth between $15-50,000.
Bresnahan is not alone. Rep. Jefferson Shreve (R-Ind.), one of Congress’ wealthiest members, has made more than 320 stock purchases between mid-January and mid-April, including in excess of 140 between April 7-17. Records indicate that some of them involve companies that fall within his jurisdiction as a member of the U.S. House Committee on Transportation and Infrastructure and total between $3.44 and $9.45 million worth of stocks.
In an emailed statement to NOTUS, Shreve spokesperson Hannah Benfield said, “Congressman Shreve relies on a financial advisor to conduct trades. He hired a professional to ensure compliance with all transaction reporting requirements for members of Congress.”
“This is a case study of a glaring example of why it’s preposterous for members of Congress to trade stocks,” said Dylan Hedtler-Gaudette, director of government affairs for nonprofit watchdog group Project on Government Oversight. “We don’t know what he knows and when he knew it or what he told his financial adviser.”
Outspoken Rep. Marjorie Taylor-Greene (R-Ga.) also recited from the same playbook when accused of insider trading in early April, telling Forbes that she “signed a fiduciary agreement to allow my financial advisor to control my investments” and usually finds “out about them when the media asks.”
With Advisory Accounts, a client will typically grant their financial advisor discretion to buy and sell investments in the account without asking in advance. The advisor or their team has discretion to trade in and out of securities/mutual funds without having to ask in advance. The client does pay an advisory fee based on a percentage of assets under management for the daily oversight of these accounts.
Just days after the start of the 119th Congress, Rep. Seth Magaziner (D-R.I.) introduced the Transparent Representation Upholding Service and Trust in Congress Act, which would require a member of Congress, as well as any spouse or dependent child of a member, to place specified investments into a qualified blind trust (i.e., an arrangement in which certain financial holdings are placed in someone else’s control to avoid a possible conflict of interest) until 180 days after the end of their tenure as a Member of Congress.
Both President Trump and House Minority Leader Hakeen Jeffries (D-N.Y.) have indicated their public support of such legislation that could revive prospects for a bipartisan effort that has stalled on Capitol Hill for years.
On Wednesday, Speaker Mike Johnson (R-La.) publicly voiced his support on Wednesday for a ban on members trading individual stocks.
“I’m in favor of that because I don’t think we should have any appearance of impropriety here,” the Louisiana Republican said Wednesday at a press conference, when asked about bipartisan talks in the House on banning congressional stock trading.
“I think we’ve gained more momentum in the last two weeks than had been achieved in the last two years,” Magaziner told NPR. “We clearly have a surge of momentum, and now we need to capitalize on it.”
Six members of the Pennsylvania delegation signed on as co-sponsors: Reps. Madeline Dean (D-04), Chrissy Houlahan (D-06), Ryan Mackenzie (R-07), Scott Perry (R-10), Summer Lee (D-12), and Chris Deluzio (D-17). Bresnahan was a glaring omission.
Both H.R. 396 and 3182 currently reside in the House Committee on House Administration, chaired by Rep. Bryan Steil (R-Wis.).
Whether we like it or not, members of Congress are allowed to buy and sell stocks.
Yes, federal law prohibits them from using “nonpublic information derived from their official positions for personal benefit,” and they are required to disclose their trades.
Now, you may cast a side eye at whether the “inside” information shared in the hallways of Washington is utilized for buying and selling securities. And that’s fair.
Hackles were raised when President Donald Trump announced on April 9 that it “is a great time to buy stocks,” just prior to announcing a reversal on reciprocal tariffs. The Dow jumped 9.5 percent by the end of the day after the announcement and begs the question of whom may have benefited.
In the days after PoliticsPA published a story about the trading habits of Rep. Rob Bresnahan (R-08), the freshman NEPA representative has done a 180° and last week introduced the Transparency in Representation through Uniform Stock Trading Ban (TRUST) Act — legislation to ban stock trading for members of Congress.
Bresnahan, who ran on a pledge to ban such activity, wants to restore public faith that elected officials are not benefiting from work discussions.
“The public should never have to question whether their elected officials are serving the public or their own portfolios,” said Bresnahan. “I am introducing the TRUST Act to restore the integrity Americans expect and deserve from their government. This legislation allows for new levels of transparency and is a safeguard to ensure Washington works for the people.”
If enacted, H.R. 3182 would go into effect at the start of the 120th Congress in January 2027. To comply with his new legislation, Rep. Bresnahan is working with the House Committee on Ethics to move his personal holdings into a blind trust.
“Members of Congress should not be allowed to profit off the information they are entrusted with – this is a belief I have held since before taking office, and this belief has not changed,” continued Bresnahan. “I have never traded my own stocks, but I want to guarantee accountability to my constituents. That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone.”
The TRUST Act would:
The legislation would not require Congressional members and their spouses to divest of existing covered financial instruments; any covered financial instrument a member and their spouse own upon assuming office are grandfathered in. Additionally, the legislation would not apply to covered financial instruments held in a qualified blind trust.
According to a 2025 Gallup survey, 62 percent of Americans own publicly traded stocks – either directly or indirectly – for example, through a retirement account or mutual fund.
The Federal Reserve’s Survey of Consumer Finances (SCF) reports that just 21 percent of American families own shares directly.
Compare this to the 118th Congress where only five percent of senators and representatives combined did not own stock. Of those who own securities, 59% are Republican and 41% are Democrats.
For the 79% that may not be familiar, there are two (2) types of accounts that are available to clients of financial advisers for the purchase of securities.
A brokerage account is a commission-based investment account that is generally utilized by a client who wants to hold securities for safekeeping with occasional trades. It acts as a middleman between the client and the financial markets, facilitated by a brokerage firm. With these accounts, the advisor may provide occasional recommendations about investments (stocks, bonds, mutual funds), but the client makes the final decisions. Because of this, the broker will need to obtain specific instructions regarding the number of shares and timing before executing any transactions.
Brokerage accounts typically do not require a fee to open nor maintain the account.
Advisory Accounts or Managed Accounts are generally used by clients who pay a fee for ongoing active management instead of a commission for each trade. This appears to be the account utilized by Bresnahan.
“Rep. Bresnahan does not trade his own stocks, he has a financial advisor like millions of Americans,” said spokesperson Hannah Pope.
Bresnahan’s advisor made 52 “sell” transactions on April 7 – the day the PoliticsPA story first appeared – worth approximately $563,000. The largest transactions were sales of Accenture PLC (ACN), Advanced Micro Devices (AMD), Occidental Petroleum Corp. (OXY), Pfizer (PFE), and Texas Instruments (TXN) worth between $15-50,000.
Bresnahan is not alone. Rep. Jefferson Shreve (R-Ind.), one of Congress’ wealthiest members, has made more than 320 stock purchases between mid-January and mid-April, including in excess of 140 between April 7-17. Records indicate that some of them involve companies that fall within his jurisdiction as a member of the U.S. House Committee on Transportation and Infrastructure and total between $3.44 and $9.45 million worth of stocks.
In an emailed statement to NOTUS, Shreve spokesperson Hannah Benfield said, “Congressman Shreve relies on a financial advisor to conduct trades. He hired a professional to ensure compliance with all transaction reporting requirements for members of Congress.”
“This is a case study of a glaring example of why it’s preposterous for members of Congress to trade stocks,” said Dylan Hedtler-Gaudette, director of government affairs for nonprofit watchdog group Project on Government Oversight. “We don’t know what he knows and when he knew it or what he told his financial adviser.”
Outspoken Rep. Marjorie Taylor-Greene (R-Ga.) also recited from the same playbook when accused of insider trading in early April, telling Forbes that she “signed a fiduciary agreement to allow my financial advisor to control my investments” and usually finds “out about them when the media asks.”
With Advisory Accounts, a client will typically grant their financial advisor discretion to buy and sell investments in the account without asking in advance. The advisor or their team has discretion to trade in and out of securities/mutual funds without having to ask in advance. The client does pay an advisory fee based on a percentage of assets under management for the daily oversight of these accounts.
Just days after the start of the 119th Congress, Rep. Seth Magaziner (D-R.I.) introduced the Transparent Representation Upholding Service and Trust in Congress Act, which would require a member of Congress, as well as any spouse or dependent child of a member, to place specified investments into a qualified blind trust (i.e., an arrangement in which certain financial holdings are placed in someone else’s control to avoid a possible conflict of interest) until 180 days after the end of their tenure as a Member of Congress.
Both President Trump and House Minority Leader Hakeen Jeffries (D-N.Y.) have indicated their public support of such legislation that could revive prospects for a bipartisan effort that has stalled on Capitol Hill for years.
On Wednesday, Speaker Mike Johnson (R-La.) publicly voiced his support on Wednesday for a ban on members trading individual stocks.
“I’m in favor of that because I don’t think we should have any appearance of impropriety here,” the Louisiana Republican said Wednesday at a press conference, when asked about bipartisan talks in the House on banning congressional stock trading.
“I think we’ve gained more momentum in the last two weeks than had been achieved in the last two years,” Magaziner told NPR. “We clearly have a surge of momentum, and now we need to capitalize on it.”
Six members of the Pennsylvania delegation signed on as co-sponsors: Reps. Madeline Dean (D-04), Chrissy Houlahan (D-06), Ryan Mackenzie (R-07), Scott Perry (R-10), Summer Lee (D-12), and Chris Deluzio (D-17). Bresnahan was a glaring omission.
Both H.R. 396 and 3182 currently reside in the House Committee on House Administration, chaired by Rep. Bryan Steil (R-Wis.).
Whether we like it or not, members of Congress are allowed to buy and sell stocks.
Yes, federal law prohibits them from using “nonpublic information derived from their official positions for personal benefit,” and they are required to disclose their trades.
Now, you may cast a side eye at whether the “inside” information shared in the hallways of Washington is utilized for buying and selling securities. And that’s fair.
Hackles were raised when President Donald Trump announced on April 9 that it “is a great time to buy stocks,” just prior to announcing a reversal on reciprocal tariffs. The Dow jumped 9.5 percent by the end of the day after the announcement and begs the question of whom may have benefited.
In the days after PoliticsPA published a story about the trading habits of Rep. Rob Bresnahan (R-08), the freshman NEPA representative has done a 180° and last week introduced the Transparency in Representation through Uniform Stock Trading Ban (TRUST) Act — legislation to ban stock trading for members of Congress.
Bresnahan, who ran on a pledge to ban such activity, wants to restore public faith that elected officials are not benefiting from work discussions.
“The public should never have to question whether their elected officials are serving the public or their own portfolios,” said Bresnahan. “I am introducing the TRUST Act to restore the integrity Americans expect and deserve from their government. This legislation allows for new levels of transparency and is a safeguard to ensure Washington works for the people.”
If enacted, H.R. 3182 would go into effect at the start of the 120th Congress in January 2027. To comply with his new legislation, Rep. Bresnahan is working with the House Committee on Ethics to move his personal holdings into a blind trust.
“Members of Congress should not be allowed to profit off the information they are entrusted with – this is a belief I have held since before taking office, and this belief has not changed,” continued Bresnahan. “I have never traded my own stocks, but I want to guarantee accountability to my constituents. That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone.”
The TRUST Act would:
The legislation would not require Congressional members and their spouses to divest of existing covered financial instruments; any covered financial instrument a member and their spouse own upon assuming office are grandfathered in. Additionally, the legislation would not apply to covered financial instruments held in a qualified blind trust.
According to a 2025 Gallup survey, 62 percent of Americans own publicly traded stocks – either directly or indirectly – for example, through a retirement account or mutual fund.
The Federal Reserve’s Survey of Consumer Finances (SCF) reports that just 21 percent of American families own shares directly.
Compare this to the 118th Congress where only five percent of senators and representatives combined did not own stock. Of those who own securities, 59% are Republican and 41% are Democrats.
For the 79% that may not be familiar, there are two (2) types of accounts that are available to clients of financial advisers for the purchase of securities.
A brokerage account is a commission-based investment account that is generally utilized by a client who wants to hold securities for safekeeping with occasional trades. It acts as a middleman between the client and the financial markets, facilitated by a brokerage firm. With these accounts, the advisor may provide occasional recommendations about investments (stocks, bonds, mutual funds), but the client makes the final decisions. Because of this, the broker will need to obtain specific instructions regarding the number of shares and timing before executing any transactions.
Brokerage accounts typically do not require a fee to open nor maintain the account.
Advisory Accounts or Managed Accounts are generally used by clients who pay a fee for ongoing active management instead of a commission for each trade. This appears to be the account utilized by Bresnahan.
“Rep. Bresnahan does not trade his own stocks, he has a financial advisor like millions of Americans,” said spokesperson Hannah Pope.
Bresnahan’s advisor made 52 “sell” transactions on April 7 – the day the PoliticsPA story first appeared – worth approximately $563,000. The largest transactions were sales of Accenture PLC (ACN), Advanced Micro Devices (AMD), Occidental Petroleum Corp. (OXY), Pfizer (PFE), and Texas Instruments (TXN) worth between $15-50,000.
Bresnahan is not alone. Rep. Jefferson Shreve (R-Ind.), one of Congress’ wealthiest members, has made more than 320 stock purchases between mid-January and mid-April, including in excess of 140 between April 7-17. Records indicate that some of them involve companies that fall within his jurisdiction as a member of the U.S. House Committee on Transportation and Infrastructure and total between $3.44 and $9.45 million worth of stocks.
In an emailed statement to NOTUS, Shreve spokesperson Hannah Benfield said, “Congressman Shreve relies on a financial advisor to conduct trades. He hired a professional to ensure compliance with all transaction reporting requirements for members of Congress.”
“This is a case study of a glaring example of why it’s preposterous for members of Congress to trade stocks,” said Dylan Hedtler-Gaudette, director of government affairs for nonprofit watchdog group Project on Government Oversight. “We don’t know what he knows and when he knew it or what he told his financial adviser.”
Outspoken Rep. Marjorie Taylor-Greene (R-Ga.) also recited from the same playbook when accused of insider trading in early April, telling Forbes that she “signed a fiduciary agreement to allow my financial advisor to control my investments” and usually finds “out about them when the media asks.”
With Advisory Accounts, a client will typically grant their financial advisor discretion to buy and sell investments in the account without asking in advance. The advisor or their team has discretion to trade in and out of securities/mutual funds without having to ask in advance. The client does pay an advisory fee based on a percentage of assets under management for the daily oversight of these accounts.
Just days after the start of the 119th Congress, Rep. Seth Magaziner (D-R.I.) introduced the Transparent Representation Upholding Service and Trust in Congress Act, which would require a member of Congress, as well as any spouse or dependent child of a member, to place specified investments into a qualified blind trust (i.e., an arrangement in which certain financial holdings are placed in someone else’s control to avoid a possible conflict of interest) until 180 days after the end of their tenure as a Member of Congress.
Both President Trump and House Minority Leader Hakeen Jeffries (D-N.Y.) have indicated their public support of such legislation that could revive prospects for a bipartisan effort that has stalled on Capitol Hill for years.
On Wednesday, Speaker Mike Johnson (R-La.) publicly voiced his support on Wednesday for a ban on members trading individual stocks.
“I’m in favor of that because I don’t think we should have any appearance of impropriety here,” the Louisiana Republican said Wednesday at a press conference, when asked about bipartisan talks in the House on banning congressional stock trading.
“I think we’ve gained more momentum in the last two weeks than had been achieved in the last two years,” Magaziner told NPR. “We clearly have a surge of momentum, and now we need to capitalize on it.”
Six members of the Pennsylvania delegation signed on as co-sponsors: Reps. Madeline Dean (D-04), Chrissy Houlahan (D-06), Ryan Mackenzie (R-07), Scott Perry (R-10), Summer Lee (D-12), and Chris Deluzio (D-17). Bresnahan was a glaring omission.
Both H.R. 396 and 3182 currently reside in the House Committee on House Administration, chaired by Rep. Bryan Steil (R-Wis.).
Whether we like it or not, members of Congress are allowed to buy and sell stocks.
Yes, federal law prohibits them from using “nonpublic information derived from their official positions for personal benefit,” and they are required to disclose their trades.
Now, you may cast a side eye at whether the “inside” information shared in the hallways of Washington is utilized for buying and selling securities. And that’s fair.
Hackles were raised when President Donald Trump announced on April 9 that it “is a great time to buy stocks,” just prior to announcing a reversal on reciprocal tariffs. The Dow jumped 9.5 percent by the end of the day after the announcement and begs the question of whom may have benefited.
In the days after PoliticsPA published a story about the trading habits of Rep. Rob Bresnahan (R-08), the freshman NEPA representative has done a 180° and last week introduced the Transparency in Representation through Uniform Stock Trading Ban (TRUST) Act — legislation to ban stock trading for members of Congress.
Bresnahan, who ran on a pledge to ban such activity, wants to restore public faith that elected officials are not benefiting from work discussions.
“The public should never have to question whether their elected officials are serving the public or their own portfolios,” said Bresnahan. “I am introducing the TRUST Act to restore the integrity Americans expect and deserve from their government. This legislation allows for new levels of transparency and is a safeguard to ensure Washington works for the people.”
If enacted, H.R. 3182 would go into effect at the start of the 120th Congress in January 2027. To comply with his new legislation, Rep. Bresnahan is working with the House Committee on Ethics to move his personal holdings into a blind trust.
“Members of Congress should not be allowed to profit off the information they are entrusted with – this is a belief I have held since before taking office, and this belief has not changed,” continued Bresnahan. “I have never traded my own stocks, but I want to guarantee accountability to my constituents. That is why I am working with House Ethics to begin the process of enacting a blind trust. I want the people I represent to trust that I am in Congress to serve them, and them alone.”
The TRUST Act would:
The legislation would not require Congressional members and their spouses to divest of existing covered financial instruments; any covered financial instrument a member and their spouse own upon assuming office are grandfathered in. Additionally, the legislation would not apply to covered financial instruments held in a qualified blind trust.
According to a 2025 Gallup survey, 62 percent of Americans own publicly traded stocks – either directly or indirectly – for example, through a retirement account or mutual fund.
The Federal Reserve’s Survey of Consumer Finances (SCF) reports that just 21 percent of American families own shares directly.
Compare this to the 118th Congress where only five percent of senators and representatives combined did not own stock. Of those who own securities, 59% are Republican and 41% are Democrats.
For the 79% that may not be familiar, there are two (2) types of accounts that are available to clients of financial advisers for the purchase of securities.
A brokerage account is a commission-based investment account that is generally utilized by a client who wants to hold securities for safekeeping with occasional trades. It acts as a middleman between the client and the financial markets, facilitated by a brokerage firm. With these accounts, the advisor may provide occasional recommendations about investments (stocks, bonds, mutual funds), but the client makes the final decisions. Because of this, the broker will need to obtain specific instructions regarding the number of shares and timing before executing any transactions.
Brokerage accounts typically do not require a fee to open nor maintain the account.
Advisory Accounts or Managed Accounts are generally used by clients who pay a fee for ongoing active management instead of a commission for each trade. This appears to be the account utilized by Bresnahan.
“Rep. Bresnahan does not trade his own stocks, he has a financial advisor like millions of Americans,” said spokesperson Hannah Pope.
Bresnahan’s advisor made 52 “sell” transactions on April 7 – the day the PoliticsPA story first appeared – worth approximately $563,000. The largest transactions were sales of Accenture PLC (ACN), Advanced Micro Devices (AMD), Occidental Petroleum Corp. (OXY), Pfizer (PFE), and Texas Instruments (TXN) worth between $15-50,000.
Bresnahan is not alone. Rep. Jefferson Shreve (R-Ind.), one of Congress’ wealthiest members, has made more than 320 stock purchases between mid-January and mid-April, including in excess of 140 between April 7-17. Records indicate that some of them involve companies that fall within his jurisdiction as a member of the U.S. House Committee on Transportation and Infrastructure and total between $3.44 and $9.45 million worth of stocks.
In an emailed statement to NOTUS, Shreve spokesperson Hannah Benfield said, “Congressman Shreve relies on a financial advisor to conduct trades. He hired a professional to ensure compliance with all transaction reporting requirements for members of Congress.”
“This is a case study of a glaring example of why it’s preposterous for members of Congress to trade stocks,” said Dylan Hedtler-Gaudette, director of government affairs for nonprofit watchdog group Project on Government Oversight. “We don’t know what he knows and when he knew it or what he told his financial adviser.”
Outspoken Rep. Marjorie Taylor-Greene (R-Ga.) also recited from the same playbook when accused of insider trading in early April, telling Forbes that she “signed a fiduciary agreement to allow my financial advisor to control my investments” and usually finds “out about them when the media asks.”
With Advisory Accounts, a client will typically grant their financial advisor discretion to buy and sell investments in the account without asking in advance. The advisor or their team has discretion to trade in and out of securities/mutual funds without having to ask in advance. The client does pay an advisory fee based on a percentage of assets under management for the daily oversight of these accounts.
Just days after the start of the 119th Congress, Rep. Seth Magaziner (D-R.I.) introduced the Transparent Representation Upholding Service and Trust in Congress Act, which would require a member of Congress, as well as any spouse or dependent child of a member, to place specified investments into a qualified blind trust (i.e., an arrangement in which certain financial holdings are placed in someone else’s control to avoid a possible conflict of interest) until 180 days after the end of their tenure as a Member of Congress.
Both President Trump and House Minority Leader Hakeen Jeffries (D-N.Y.) have indicated their public support of such legislation that could revive prospects for a bipartisan effort that has stalled on Capitol Hill for years.
On Wednesday, Speaker Mike Johnson (R-La.) publicly voiced his support on Wednesday for a ban on members trading individual stocks.
“I’m in favor of that because I don’t think we should have any appearance of impropriety here,” the Louisiana Republican said Wednesday at a press conference, when asked about bipartisan talks in the House on banning congressional stock trading.
“I think we’ve gained more momentum in the last two weeks than had been achieved in the last two years,” Magaziner told NPR. “We clearly have a surge of momentum, and now we need to capitalize on it.”
Six members of the Pennsylvania delegation signed on as co-sponsors: Reps. Madeline Dean (D-04), Chrissy Houlahan (D-06), Ryan Mackenzie (R-07), Scott Perry (R-10), Summer Lee (D-12), and Chris Deluzio (D-17). Bresnahan was a glaring omission.
Both H.R. 396 and 3182 currently reside in the House Committee on House Administration, chaired by Rep. Bryan Steil (R-Wis.).
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