January 25, 2023 1:15am EST
Josh Hawley introduces PELOSI Act to bar lawmakers from trading stocks and profiting while in office
Sen. Josh Hawley introduced the PELOSI Act on Tuesday, following a previous bill he introduced barring members from trading stocks
By Lawrence Richard | Fox News
A Republican in the U.S. Senate is looking to prevent lawmakers and their spouses from trading stocks on which the officials would have privileged information and used the bill's title to make a not-so-subtle dig at former House Speaker Nancy Pelosi.
On Tuesday, Sen. Josh Hawley, R-Mo., introduced the PELOSI Act, officially the Preventing Elected Leaders from Owning Securities and Investments Act, requiring members and their spouses to divest any holdings or put them in a blind trust within six months of entering office.
"Members of Congress and their spouses shouldn’t be using their position to get rich on the stock market - today l’m introducing legislation to BAN stock trading & ownership by members of Congress. I call it the PELOSI Act," he wrote on Twitter Tuesday.
The bill comes after revelations last year that Nancy’s husband, Paul Pelosi, traded between $1 million and $5 million of stocks for semiconductors just days before Congress allocated $52 million to the industry. The stocks were later sold at a loss to remove the appearance of impropriety.
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https://www.foxnews.com/politics/josh-hawley-introduces-pelosi-act-bar-lawmakers-trading-stocks-profiting-office
