BREAKING: PELOSI Act Bans Congressional Stock Trading, Passes Committee 8-7
The bipartisan PELOSI Act (Preventing Elected Leaders from Owning Securities and Investments Act) passed the Senate committee 8-7, banning members of Congress and their spouses from buying, selling, or holding individual stocks to prevent conflicts of interest.
What’s Allowed?
- Congress members can still invest in mutual funds or broadly diversified vehicles, as clarified by Senator Hawley.
- The bill requires annual compliance certifications and audits by the Government Accountability Office.
- It enjoys bipartisan support—with members from both parties voting yes.
Why the Name?
Named after former Speaker Nancy Pelosi amid stock trading controversies, the bill aims to restore public trust in congressional ethics. Pelosi supports the reform.
Why It’s Called the PERFECT Bill?
Supporters say it’s PERFECT (Preventing Elected Leaders from Owning Securities and Investments) because it:
- Stops direct individual stock trading.
- Allows diversified investments to balance fairness.
- Applies across parties, ensuring bipartisan ethics reform.
