The White House intensified its support for a proposed congressional stock trading ban after Press Secretary Karoline Leavitt directly criticized former House Speaker Nancy Pelosi over her controversial financial dealings.
Leavitt Calls Out Pelosi
During a press briefing, Leavitt cited Pelosi’s stock portfolio as the driving force behind growing public pressure for reform.
“The reason this idea—to put a ban on stock trading for members of Congress—is even being discussed is because of Nancy Pelosi,” Leavitt said. “She earns $174,000 a year, yet has a net worth of roughly $413 million. In 2024, her portfolio grew by 70 percent, outperforming Warren Buffett and every major hedge fund on Wall Street.”
Leavitt argued that Pelosi’s investments, combined with public distrust of Washington, highlight the need for restrictions on lawmakers enriching themselves through insider knowledge.
“The president stands with the American people,” she added. “He doesn’t want to see members of Congress profiting off their positions while their constituents struggle.”
The PELOSI Act Gains Momentum
The criticism comes as Sen. Josh Hawley (R-Mo.) continues to push forward the Preventing Elected Leaders from Owning Securities and Investments Act, more commonly known as the PELOSI Act. The legislation would bar lawmakers and their spouses from owning or trading individual stocks, limiting them instead to broad-based funds or U.S. Treasury bonds.
Hawley has argued that the bill is necessary to restore trust in government:
“Members of Congress should be fighting for the people they were elected to serve—not day trading at the expense of their constituents,” he said earlier this year.
House Speaker Mike Johnson (R-La.) has voiced his support, as have several other Republicans and a handful of Democrats. President Donald Trump has also expressed interest, although disagreements over legislative details briefly sparked tension with Hawley.
Political Fallout and Next Steps
Republicans attempted to add an amendment requiring a public report on Pelosi and her husband’s trades, but the measure was blocked after Hawley sided with Senate Democrats. That move drew criticism from Trump, who called Hawley a “second-tier senator” on Truth Social. Hawley later described the clash as a misunderstanding, clarifying that the law would not apply to Trump or Vice President JD Vance.
The bill’s future now rests on negotiations between the White House and Congress. While passage is uncertain, the debate underscores how much Pelosi’s financial record has shaped the conversation.
For critics, Pelosi represents everything wrong with congressional trading. For her defenders, the focus risks turning bipartisan reform into a partisan feud. Either way, the pressure to act appears stronger than ever.
