President Donald Trump said in an interview published Friday that he would "absolutely" sign a ban on congressional stock trading into law if such legislation reached his desk.
"Well, I watched [former House Speaker] Nancy Pelosi [D-Calif.] get rich through insider information, and I would be OK with it. If they send that to me, I would do it," Trump told Time magazine in an interview about his second term’s first 100 days.
When asked if he would sign such a bill, Trump replied, "Absolutely."
During her time leading the House chamber, Pelosi resisted legislative efforts to ban stock trading by members of Congress and their families. Her investor husband, Paul Pelosi, has made a substantial amount of money in stock trading, and critics have frequently noted instances where he made successful trades.
In 2022, Pelosi dropped her opposition to a congressional prohibition on stock trading.
The issue of congressional stock trading has drawn concern over the years, particularly due to the access members of Congress have to classified intelligence and the insider knowledge they possess about the pace of lawmaking.
A bipartisan group of senators reportedly sparked outrage in 2020 for trading healthcare stocks after private briefings on the COVID-19 pandemic.
Though a ban on congressional stock trading has long garnered bipartisan support on Capitol Hill, it has never attracted enough to clear both chambers of Congress.
According to The Hill, the greatest movement on the issue occurred last year when the Ending Trading and Holdings in Congressional Stocks Act was advanced by the Senate Homeland Security and Government Affairs Committee.
In addition to members of Congress, the measure sought to bar their spouses and dependent children from trading stocks. It did not pass the full Senate.
Nicole Weatherholtz ✉
Nicole Weatherholtz, a Newsmax general assignment reporter covers news, politics, and culture. She is a National Newspaper Association award-winning journalist.
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