Senator Josh Hawley takes aim at congressional stock trading with renewed legislation targeting lawmakers' investment activities.

According to Fox News, the Missouri Republican is reintroducing the PELOSI Act on Monday, which would prohibit members of Congress and their spouses from trading stocks while serving in office, a measure that has gained support from both President Donald Trump and Democratic leadership.

The proposed legislation, named after former House Speaker Nancy Pelosi, who has achieved significant stock market gains during her time in Congress, would require current lawmakers to comply within 180 days of the bill's passage. New legislators would face the same deadline upon entering office.

Bipartisan momentum builds for trading restrictions

President Trump expressed strong support for the initiative during a recent Time Magazine interview, specifically citing concerns about Nancy Pelosi's trading activities. House Minority Leader Hakeem Jeffries has also thrown his weight behind the proposal, signaling growing Democratic support for trading restrictions.

Hawley's determination to push forward with the legislation comes after a failed attempt to pass similar measures in 2023 under the Biden administration. The renewed effort reflects increasing public pressure for congressional accountability.

The Missouri senator emphasized the importance of public trust in the legislative process. Here's what he told Fox News Digital:

Members of Congress should be fighting for the people they were elected to serve—not day trading at the expense of their constituents. 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.

Detailed framework for investment restrictions

Under the proposed legislation, lawmakers would still maintain investment options through diversified mutual funds, exchange-traded funds, and U.S. Treasury bonds. These alternatives aim to provide financial flexibility while preventing potential conflicts of interest.

The bill includes strict enforcement mechanisms to ensure compliance. Lawmakers who violate the trading restrictions would be required to surrender any profits to the U.S. Treasury Department and could face additional penalties.

House and Senate ethics committees would have the authority to impose fines equal to 10% of each wrongful transaction, creating a substantial deterrent against violations.

Forward movement toward implementation

The legislation's prospects have improved significantly with Trump's explicit commitment to sign the bill if it reaches his desk. The president's stance represents a departure from previous administrations' positions on congressional trading reform.

Democratic leadership's support, combined with Republican backing, suggests a potential path forward for the legislation. This rare display of bipartisan cooperation could accelerate the bill's progress through Congress.

The timing of Hawley's reintroduction coincides with growing public scrutiny of congressional trading activities and calls for increased transparency in government.

Looking ahead at legislative prospects

The PELOSI Act represents a significant effort to reform congressional investment practices and restore public confidence in legislative integrity. Senator Hawley's renewed push to ban stock trading among lawmakers has garnered unprecedented bipartisan support. The legislation's fate now rests with Congress, where both Democratic and Republican leaders have signaled their willingness to consider trading restrictions. With President Trump's commitment to sign the bill and growing bipartisan momentum, the PELOSI Act could mark a historic shift in congressional ethics standards.