Nancy Pelosi’s historic role as the first female Speaker of the House and her long list of legislative accomplishments are likely to be remembered for years to come. But now, her legacy may also be tied to a law inspired by her name—one that aims to put an end to stock trading by members of Congress.
Despite her efforts to lead major legislative wins with tight majorities, Pelosi and her husband’s well-publicized stock market success have drawn criticism and sparked calls for reform. The controversy has led to the introduction of the PELOSI Act—short for Preventing Elected Leaders from Owning Securities and Investments—a bipartisan bill designed to ban lawmakers and their spouses from trading individual stocks while in office.
Missouri Republican Rep. Mark Alford recently introduced a companion bill in the House, echoing a similar proposal from Sen. Josh Hawley. Alford explained in a statement, “We owe it to the American people to hold ourselves to a higher standard. Too many lawmakers have engaged in questionable stock deals based on non-public information. It’s time to draw a hard line.”
Sen. Hawley added, “Congress should work for the people—not treat their seats like a Wall Street day-trading job. Americans deserve better.”
The PELOSI Act doesn’t ban all investing—lawmakers would still be able to invest in diversified mutual funds, ETFs, or Treasury bonds. But trading individual stocks would be off-limits. Those already in office would have 180 days to comply, and any violations could result in the forfeiture of profits to the U.S. Treasury, along with additional penalties from ethics committees.
Even House Speaker Mike Johnson voiced his support, saying it’s crucial to “avoid even the appearance of impropriety,” noting that the actions of a few have damaged public trust in Congress.
Surprisingly, the bill has also received backing from several Democrats—including Pelosi’s own successor, House Minority Leader Hakeem Jeffries. While he hasn’t explicitly endorsed the name of the bill, he expressed support for efforts to ban congressional stock trading.
Longtime advocate Rep. Ro Khanna of California also weighed in, saying, “It’s been more than three years since the pandemic—and despite some senators dumping stocks after learning about it, we still haven’t had a vote. That’s unacceptable.”
Even former President Donald Trump chimed in during an interview with Time magazine, saying he would “absolutely” sign the bill into law if it came across his desk. “I watched Pelosi get rich off insider information. If they bring that bill to me, I’ll sign it,” he said.
While Pelosi’s name may be etched in the history books for breaking barriers, the growing support for the PELOSI Act could attach another chapter to her story—one that calls for greater transparency, accountability, and fairness in Washington.