The PELOSI Act: Hilariously Named Bill Proposed to Stop Congress from Insider Trading

Like it or not, Nancy Pelosi has really left an impact on many people, for better or worse…

Missouri senator Josh Hawley is someone who has been ‘moved’ by Pelosi’s actions as House Speaker.

In honor of those actions, Hawley just named a proposed bill after her.

The aptly named ‘PELOSI Act’ (The Preventing Elected Leaders from Owning Securities and Investments) would seek to ban lawmakers, as well as their spouses, from holding and trading individual stocks.

It would also force those in violation to return their profits back to the American people.

Hawley actually first introduced a version of this bill a year ago, but the updated name has a nice ring to it.

Sen. Hawley’s Insider Trading Bill Returns To Congress Under New Title ‘PELOSI Act’ https://t.co/JV4diVdo5s pic.twitter.com/I0g23P42ZI

— Daily Wire News (@DailyWireNews) January 24, 2023

Daily Wire has more on Hawley’s proposed bill:

U.S. Senator Josh Hawley (R-MO) reintroduced his 2022 insider trading bill Tuesday that would ban lawmakers and their spouses from holding and trading individual stocks and force political figures to return profits to American citizens under a new title dubbed the “PELOSI Act.”

The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act comes just over a year after Hawley introduced the original bill, in which he accuses politicians of somehow outperforming the stock market every year they hold office.

This time around, the senator’s updated version takes a jab at California Rep. Nancy Pelosi, who many Republican lawmakers had slammed after her husband, Paul Pelosi, sold up to $5 million worth of shares in Nvidia, a California company that produces semiconductors, just before the House voted on a bill surrounding the domestic chip manufacturing industry.

Hawley touted his proposed bill on Twitter:

Members of Congress and their spouses shouldn’t be using their position to get rich on the stock market – today l’m introducing legislation to BAN stock trading & ownership by members of Congress. I call it the PELOSI Act pic.twitter.com/aIXNwSnTvW

— Josh Hawley (@HawleyMO) January 24, 2023

NEW: @HawleyMO announces the PELOSI Act 👀 pic.twitter.com/E9eXH5CXNd

— Abigail Jackson 🇺🇸 (@abigailmarone) January 24, 2023

Sounds like a good idea to me!

It’s gaining some steam on social media:

BREAKING: Senator Josh Hawley introduces the PELOSI Act which would ban Congress members from trading stocks.

Do you support this?

— DailyNoah.com (@DailyNoahNews) January 25, 2023

NEW: Senator Josh Hawley introduces the PELOSI Act which would ban Congress members from trading stocks.

Do you support this?

— Collin Rugg (@CollinRugg) January 24, 2023

BREAKING: 🇺🇸 Senator Josh Hawley introduces bill called "Pelosi Act" that would ban congress members from trading stocks.

I think this is great!

Via @WatcherGuru

— MASON VERSLUIS (@MasonVersluis) January 25, 2023

https://twitter.com/Todd_Peterson_1/status/1618041361437200385?s=20&t=6ud9FIP8KfuO3xGz3eK8NA

Hawley Introduces ‘PELOSI Act’ To Ban Congress From Insider Trading https://t.co/QI7urfZinq

— Senator Hawley Press Office (@SenHawleyPress) January 24, 2023

Daily Caller provided more details:

“For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people,” Hawley said in a statement. “As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again.”

Former Speaker of the House Nancy Pelosi, reportedly one of the wealthiest members of Congress, opposed bans on stock trading in the 117th Congress. Pelosi and her husband Paul bought and sold millions in stocks, including chip stocks just before Congress passed a semiconductor subsidy package in 2022.