Rep. Mikie Sherrill, D-N.J., has seen her assets increase by more than $7 million since joining Congress in 2019, thanks to stock trades, The Washington Free Beacon reported.
The newspaper's reporting is based on an estimated average, given that federal financial disclosure forms require assets to be listed as range. It's possible that Sherrill's assets were as high as $13.975 million in 2024, according to Friday's report.
Sherrill has made hundreds of stock transactions since her election to Congress, most notably during the COVID pandemic when, as a member of the House Armed Services Committee, she was privy to information that the general public was not, the Free Beacon reported.
Members of Congress are allowed to trade stocks, provided they're reported within 30 days under the 2012 STOCK Act. Sherrill paid a $400 fine for failing to disclose up to $350,000 in stock sales in December, according to the Free Beacon.
Sen. Josh Hawley, R-Mo., reintroduced a bill last week that would ban members of Congress from trading or holding individual stocks. It's called the PELOSI Act.
"Members of Congress should be fighting for the people they were elected to serve — not day trading at the expense of their constituents," Hawley said in a press release. "Americans have seen politician after politician turn a profit using information not available to the general public. It's time we ban all members of Congress from trading and holding stocks and restore Americans' trust in our nation's legislative body."
The bill's acronym is in reference to former House Speaker Nancy Pelosi, D-Calif. Her husband has drawn scrutiny for millions in suspected insider trading.
In Sherrill's case, her office in April 2020 said she moved away from trading individual stocks before the pandemic and before receiving briefings on it. However, the Free Beacon reported she made dozens of more trades on July 17, 2020.
Sherrill in January was one of 43 lawmakers to co-introduce the TRUST Act, a House version of a bill that would ban members of Congress and family members from trading individual stocks.
"Mikie's life has been about public service, and she has been more than clear about her commitment to transparency and accountability in government," spokeswoman Carly Jones told the Free Beacon.
Sherrill is one of several Democrats running for governor of New Jersey in 2025.