Donald Trump has lashed out at a Republican senator over his support for a bill that would ban lawmakers, presidents, and vice presidents from trading stocks.
Senator Josh Hawley voted with Democrats to advance legislation out of the Senate Committee on Homeland Security and Governmental Affairs.
The bill, originally introduced by Hawley but amended in committee, would also ban lawmakers’ spouses from trading individual stocks if passed.
Highlights
- Senator Josh Hawley was the sole Republican backing a bill banning stock trading by Congress, the president, and vice president.
- Donald Trump criticized Hawley for blocking an amendment to review Pelosi’s stock trades despite initially liking the bill's concept.
- The Honest Act bans lawmakers and spouses from trading stocks and requires divestment starting next term if passed.
Donald Trump slammed Senator Josh Hawley in a Truth Social post
Image credits: The White House
While Trump had earlier said he liked Hawley’s legislation “conceptually,” he slammed the senator on Truth Social for voting to block an amendment, proposed by Senator Rick Scott, that would have required a review of the stock trades made by former House Speaker Nancy Pelosi and her husband, Paul Pelosi.
“Why would one ‘Republican,’ Senator Josh Hawley from the Great State of Missouri, join with all of the Democrats to block a Review, sponsored by Senator Rick Scott, and with the support of almost all other Republicans, of Nancy Pelosi’s Stock Trading over the last 25 years,” Trump wrote on Truth Social.
Trump has accused Pelosi and her husband of profiting from insider trading to earn money on the stock market, but there is no evidence to support his claim.
Hawley also voted against a separate amendment that would have exempted the president from the legislation.
Image credits: Chip Somodevilla/Getty Images
An earlier version of the bill, originally named the Pelosi Act, had focused primarily on banning stock trades by members of Congress and their spouses.
The amended version, now called the Honest Act, expands the ban to include the president and vice president.
If it becomes law, elected officials, including Trump, would immediately be banned from buying stocks and would be prohibited from selling stocks 90 days after enactment.
A requirement for elected officials to divest from all covered investments would not start until the beginning of their next term in office, meaning Trump would not be affected by that requirement, AP reported.
Image credits: Jemal Countess/Getty Images for Families Over Billionaires
“We have an opportunity here today to do something that the public has wanted to do for decades,” Hawley told the panel. “And that is to ban members of Congress from profiting on information that frankly only members of Congress have on the buying and selling of stock.”
Trump described Hawley as a “second-tier” senator after the vote and said Democrats were trying to target him.
“The Democrats, because of our tremendous ACHIEVEMENTS and SUCCESS, have been trying to ‘Target’ me for a long period of time, and they’re using Josh Hawley, who I got elected TWICE, as a pawn to help them,” he wrote on Truth Social.
“I wonder why Hawley would pass a Bill that Nancy Pelosi is in absolute love with — He is playing right into the dirty hands of the Democrats. It’s a great Bill for her and her ‘husband,’ but so bad for our Country!”
Hawley voted against an amendment that would investigate Pelosi
Image credits: Donald J Trump
“I don’t think real Republicans want to see their President, who has had unprecedented success, TARGETED, because of the ‘whims’ of a second-tier Senator named Josh Hawley!”
Hawley was the only Republican to support the legislation, with the committee voting 8-7 to advance it.
Some Republicans pushed back on the bill, arguing it was redundant and could discourage qualified individuals from seeking public office.
Senator Ron Johnson of Wisconsin dismissed the effort as “legislative demagoguery,” according to AP.
“We do have insider trading laws. We have financial disclosure. Trust me, we have financial disclosure,” Johnson said. “So I don’t see the necessity of this.”
Momentum to restrict or ban stock trading by elected officials has grown in recent years amid bipartisan concerns over potential conflicts of interest and the appearance of insider trading.
Pelosi was among those to welcome the new legislation as she made a dig at Republicans for originally trying to name the bill after her.
“We must have strong transparency, robust accountability and tough enforcement for financial conduct in office because the American people deserve confidence that their elected leaders are serving the public interest — not their personal portfolios,” she said in a statement.
Image credits: Al Drago/Getty Images
“If legislation is advanced to help restore trust in government and ensure that those in power are held to the highest ethical standards, then I am proud to support it — no matter what they decide to name it.
“While I appreciate the creativity of my Republican colleagues in drafting legislative acronyms, I welcome any serious effort to raise ethical standards in public service. The HONEST Act, as amended, rightly applies its stock trading ban not only to Members of Congress, but now to the President and Vice President as well. I strongly support this legislation and look forward to voting for it on the Floor of the House.”
Earlier this month, Senator Hawley also introduced a bill to repeal Medicaid cuts, just two weeks after voting for Trump’s Big Beautiful Bill, which enacted them.