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Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act Heads To Congress

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Published on: January 26, 2023

Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act. Brilliant.

Pelosi got obscenely wealthy trading on insider government intel. She’s not the only one.

Sen. Hawley’s Insider Trading Bill Returns To Congress Under New Title ‘PELOSI Act’

By Brandon Drey • Daily Wire • Jan 24, 2023 •

U.S. Senator Josh Hawley (R-MO) reintroduced his 2022 insider trading bill Tuesday that would ban lawmakers and their spouses from holding and trading individual stocks and force political figures to return profits to American citizens under a new title dubbed the “PELOSI Act.”

The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act comes just over a year after Hawley introduced the original bill, in which he accuses politicians of somehow outperforming the stock market every year they hold office.

This time around, the senator’s updated version takes a jab at California Rep. Nancy Pelosi, who many Republican lawmakers had slammed after her husband, Paul Pelosi, sold up to $5 million worth of shares in Nvidia, a California company that produces semiconductors, just before the House voted on a bill surrounding the domestic chip manufacturing industry.

“For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people,” Hawley said in a news release.

In addition to prohibiting members of Congress from taking advantage of the market and wielding their power and privilege over American citizens, The PELOSI Act would also ban said politicians from holding diversified mutual funds, exchange-traded funds, or exempt U.S. Treasury bonds.

Six months upon assuming office, the bill would require new congressional members to divest or place prohibited holdings in a blind trust — to remain there while they are serving the American people.

Spouses of American politicians in Congress would also have to forfeit any investment profits back to the American people through the U.S. Treasury……

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