Members of Congress should spend their time writing laws, not picking stocks. Yet today you can download an app that automatically copies the stock trades of Representatives into your own investment account. The most-copied portfolio belongs to former Speaker Pelosi’s household — up 200% since 2023!
The problem: Americans shouldn’t have to wonder whether their elected officials are serving the public or their portfolios. When hundreds of thousands of investors are following Members of Congress for stock tips, it’s clear Washington has a trust problem.
The good news: One of the first bills I filed when I came to Congress was a ban on congressional stock trading. It took three years, four bills, and a discharge petition signature to finally force a vote, but last week the House passed the Stop Insider Trading Act — legislation I helped introduce. It’s the first time a chamber of Congress has voted to ban its own members from buying individual stocks.
Why it matters: I’ve never had an Iowan tell me they want their Member of Congress day trading instead of legislating. 86% of Americans support this ban, and for good reason. Members of both parties cleared more than $200 million in the market last year, while the people who sent them here picked up extra shifts to put food on the table.
One vote doesn’t fix Washington. But it does answer an important question: who’s willing to live by the same rules as the people they represent? 198 Democrats voted no, and every Republican was a yes.Â
Bottom Line: Public office is a public trust. That’s why I sold every individual stock I owned before I was sworn into Congress. It’s why I introduced legislation to ban congressional stock trading during my first month on the job. And it’s why I’ll keep fighting until every Member of Congress is held to the same standard.