Republican Senator Josh Hawley of Missouri is moving forward with his proposal to ban stock trading by members of Congress, despite President Donald Trump’s recent critique labeling him a “second-tier” senator. In response to this, Senator Josh Hawley has introduced the Honest Act. This legislation aims to prohibit elected officials like the president and vice president from owning, purchasing, or selling stock while in office. That bill reared its head again recently, receiving overwhelming bipartisan support in moving through the Senate’s Homeland Security and Governmental Affairs Committee.
Hawley and Senator Gary Peters, the top Democrat on the committee, jointly emphasized that the proposed legislation would extend the ban to spouses of these officials as well. This joint endeavor is a real sign of how lawmakers are increasingly concerned about the conflicts of interest associated with private stock trading.
In a recent appearance on Fox News, Hawley brushed off Trump’s remarks, stating, “It’s not the worst thing I’ve ever been called.” He further reiterated that he and the president had a very fruitful discussion over the bill this week that settled any miscommunications. The legislation would not affect Trump’s ownership of Mar-a-Lago or any other assets, Hawley said plainly. This legislation is an important step to stop elected officials’ conflicts of interest dead in their tracks.
“We have an opportunity here today to do something that the public has wanted to do for decades.” – Josh Hawley
Hawley’s proposal would make immediate, hard-and-fast prohibitions on stock trading by elected officials. Secondly, it would prohibit them from purchasing any equities and ban them from selling individual equities for a period of 90 days after the bill is enacted. However, contrary to everything he claims in the video, Hawley was actively working with Democrats to kill this amendment. This amendment would have targeted Democratic Representative Nancy Pelosi and her husband for investigation into their stock trades.
Democratic leaders, including former Speaker Pelosi herself, have consistently touted support for transparency and accountability mechanisms in government. Pelosi stated, “The American people deserve confidence that their elected leaders are serving the public interest — not their personal portfolios.” This new sentiment is at the heart of the bipartisan effort to reform the way lawmakers interact with financial markets.
As the Honest Act moves forward, both Hawley and Peters stressed the need for it to restore public confidence in our elected officials. Peters remarked, “We are one step closer to getting this bill passed into law and finally barring bad actors from taking advantage of their positions for their own financial gain.” This joint initiative is a sign of the deep and growing commitment to ethical concerns and accountability on the part of lawmakers from both parties.
Additionally, bipartisan support for this legislation is no small feat. At a moment of growing political division in our country, it’s heartening to witness bipartisan collaboration on consequential issues. Some Republicans have criticized Hawley’s approach. As Republican Senator Ron Johnson characterized it, that was pure “legislative demagoguery.” He warned that the bill could raise partisan priorities above genuine reform.
Hawley agrees with serious penalties should be imposed on Pelosi for her insider trading. Yet, he has still not offered any credible justification for doing so. This statement has further complicated the already contentious discussion about whether Congress is doing enough on ethics and accountability.
