The Trump administration has signaled support for the PELOSI Act, a bipartisan bill aimed at banning members of Congress and their spouses from trading individual stocks while in office. While the bill’s title—formally, the Preventing Elected Leaders from Owning Securities and Investments Act—is a pointed reference to former House Speaker Nancy Pelosi, the White House insists the measure reflects a broader push for public accountability.
Speaking to reporters this week, Press Secretary Karoline Leavitt said President Trump conceptually supports the idea behind the bill and has spoken directly with Senator Josh Hawley, a co-sponsor of the legislation.
“The president stands with the American people on this,” Leavitt said. “He doesn’t want to see people like Nancy Pelosi enriching themselves off of public service and ripping off their constituents in the process.”
Under the proposed law, members of Congress and their spouses would be prohibited from buying or selling individual stocks and other select financial instruments. The bill allows for investments in diversified funds and Treasury securities, and it exempts assets held in qualified blind trusts. Members would have 180 days to divest holdings or move them into compliant vehicles after the bill’s enactment or after assuming office.
Failure to comply would trigger financial penalties: any profits made in violation of the law would be forfeited to the U.S. Treasury, and members could face civil fines. Beyond that, it would be illegal for lawmakers to deduct investment losses from trades on their tax returns. Rather than jail time, lawmakers who violate the act will be audited by the Government Accountability Offie.
Though the bill applies to all lawmakers, Leavitt made clear that the administration sees Pelosi as emblematic of the problem. Citing data from 2024, she claimed Pelosi’s stock portfolio grew by 70% that year—outpacing hedge funds and even Warren Buffett’s Berkshire Hathaway.
It’s not new for elected officials to be questions about their stock trading activity, especially when those trades go hand in hand with legislation or confidential briefings. Currently there are no official charges against Pelosi or her husband.
Still, the PELOSI Act has gained momentum as public trust in Congress remains low. A 2024 Gallup poll found that only 7% of Americans have a “great deal” of confidence in lawmakers. Supporters of the bill believe that this stock bans is a necessary step toward restoring credibility in our public servants, but we’ll see how that goes.
As for next steps, Leavitt said the White House is “in discussions with our friends on Capitol Hill” to shape the final version of the legislation. Though some details remain under negotiation, the Trump administration’s endorsement marks a significant shift from previous years, when similar proposals stalled without executive backing.
