by WorldTribune Staff / 247 Real News May 14, 2025
House Speaker Mike Johnson on Wednesday declared his support for a ban on stock trading by members of Congress.
House Speaker Mike Johnson / Video Image“You want me to tell you my honest opinion on that? I’m in favor of that, because I don’t think we should have any appearance of impropriety here,” he told reporters, adding that members’ ability to trade had been “abused in the past, and I think sadly, a few bad actors discolor it for everyone.”
Johnson didn’t name any specific bad actors. Republicans have frequently pointed to former House Speaker Nancy Pelosi. While the California Democrat doesn’t personally own any stock, her husband has an active trading portfolio that has drawn complaints about potential conflicts of interest.
“I watched Nancy Pelosi get rich through insider information, and I would be OK with it,” President Donald Trump told Time magazine last month when asked if he would support a congressional stock trading ban. “If they send that to me, I would do it.”
Some House members have pushed for a ban on trades of individual stocks by Congress members who are already bound by the 2012 STOCK Act, which bans trading on congressional insider knowledge and requires lawmakers to report their trades.
“We are now working on building a bipartisan coalition of members. But this is also something the president wants,” Iowa Republican Rep. Zach Nunn told Roll Call in January. “And that has been, I think, the difference here. We now have an administration which is very focused on getting transparency and accountability.”
Texas GOP Rep. Chip Roy, one of the proponents involved in the bipartisan push, told reporters earlier this month: “We’re going to be voting on a stock trade ban for congressional members this year. That’s gonna have to happen.”
Senate leadership has not yet thrown its weight behind any proposal on the trading ban.
“Some people say, well look, the salary of Congress has been frozen since 2009. When you adjust for inflation, a member of Congress today is making 31 percent less than they made in that year,” Johnson said. “The counterargument is, and I have some sympathy … is at least let them engage in some stock trading so that they can continue to take care of their family.”
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‘My honest opinion?’ Speaker Johnson backs ban on congressional stock trading added by Editor Two on May 14, 2025
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