Senate Stock Trading Ban Advances with Hawley’s Lone GOP Support
“The public has demanded this for decades—stopping Congress from profiting off exclusive information,” Hawley said, stressing the need for integrity in public service.
On July 30, 2025, the Senate Homeland Security and Governmental Affairs Committee voted 8-7 to advance a bill banning stock trading by members of Congress, the president, and vice president. Sen. Josh Hawley (R-Mo.), the only Republican to support it alongside all committee Democrats, led the charge. “The public has demanded this for decades—stopping Congress from profiting off exclusive information,” Hawley said, stressing the need for integrity in public service.
Originally called the PELOSI Act, a jab at former House Speaker Nancy Pelosi’s husband’s questionable trades, the revised Honest Act extends the ban to future presidents and vice presidents, exempting current officeholders like President Donald Trump and Vice President JD Vance until 2029. The bill bars lawmakers, the president, vice president, and their spouses from trading or holding individual stocks during their terms, allowing only diversified mutual funds, ETFs, or U.S. Treasury bonds. Compliance requires annual ethics certifications, with biennial audits by the Government Accountability Office.
Most Republicans on the committee opposed the bill. Sen. Ron Johnson (R-Wis.) argued existing insider trading laws suffice, warning of unintended consequences. Sen. Rick Scott (R-Fla.), a self-made millionaire, defended wealth-building, stating, “I don’t know when making money became a negative in this country.” Sen. Bernie Moreno (R-Ohio), once a co-sponsor, called the process rushed and a “publicity show.” Tensions flared when Hawley voted with Democrats to block a GOP amendment, proposed by Scott, to review Pelosi’s stock trades over 25 years. President Trump, in a July 30 Truth Social post, blasted Hawley for this, calling him a “second-tier Senator” and accusing Democrats of using him to shield Pelosi while targeting GOP leadership. Trump clarified he supports the ban’s concept but opposed the blocked review.
Public support for the ban is overwhelming, with over 80% of voters favoring it after scandals like lawmakers’ well-timed COVID-19 trades. The bill faces a tough road in the GOP-controlled Senate, needing 60 votes to pass. In the House, Rep. Anna Paulina Luna (R-Fla.) is pushing a similar ban, eyeing a discharge petition to force a vote.
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