This week, Sen. Josh Hawley (R-MO) reintroduced a bill in the Senate to block members of Congress from trading individual stocks.
This is an issue that has been under discussion for quite some time as part of an effort to block insider trading in the halls of Congress.
Trump appeared to reject the bill, attacking Hawley for introducing the legislation and also accusing Speaker Emerita Nancy Pelosi (D-CA) of insider trading.
Hawley got the bill out of committee without a single Republican supporting the legislation, with every Democrat voting in favor of advancing it.
Hawley stated, "I practice what I preach. I don't have individual stocks, I don't trade in stocks. I'm not a billionaire, unlike others on this committee. And what I think is, the American people are sending us a clear message."
Sen. Rick Scott (R-FL) agreed that members of Congress should not be benefiting from their inside knowledge by investing in and profiting from stocks, but he took exception to some of the wording in the legislation.
He stated, "I don't know when in this country it became a negative to make money. But somehow, if you've made money, you're supposedly -- I think Senator Hawley suggests -- you shouldn't be serving, because you might trade stocks."
When the bill was first introduced, Trump stated, "Well, I like it conceptually. I don't know about it. But I like it conceptually." Apparently, after reading the bill, Trump took exception to the fact that he was mentioned in it. Trump went on the attack, stating, “I don’t think real Republicans want to see their President, who has had unprecedented success, TARGETED, because of the ‘whims’ of a second-tier Senator named Josh Hawley!”
Trump is not being targeted in the bill, as it would allow an exemption for the president and Vice President JD Vance, since they are already in office. However, it would hold future presidents and vice presidents accountable to the same standard that the bill would apply to all members of Congress.
Trump further stated, "The Democrats, because of our tremendous ACHIEVEMENTS and SUCCESS, have been trying to 'Target' me for a long period of time, and they're using Josh Hawley, who I got elected TWICE, as a pawn to help them. I wonder why Hawley would pass a Bill that Nancy Pelosi is in absolute love with -- He is playing right into the dirty hands of the Democrats. It's a great Bill for her, and her 'husband,' but so bad for our Country!"
And just for the record, it was not Trump who helped Hawley get elected in 2024. Hawley won his 2024 race 55.6-41.8%, which is a huge margin. In 2018, Hawley won the seat as a first-time candidate by a comfortable margin as well, 51.4-45.6%, but he was facing a Democrat incumbent, so I am sure Trump’s endorsement helped, but he was likely going to win that seat regardless. Again, I don’t understand these attacks by Trump against his fellow Republicans and his incessant need to think he is personally responsible for people winning their elections, especially when they are clearly winning on their record.
In his rant, Trump has also accused Pelosi of insider trading, which is where his attacks should have been centered. While Pelosi does not personally trade, I would say that it seems quite apparent that her husband has been using her insider information to buy and sell stocks and options.
When CNN’s Jake Tapper gave Pelosi a chance to respond to the allegations, she just about lost it during the interview. She then tried to flip it on Trump, stating, "But the president has his own exposure, so he‘s always projecting. He‘s always projecting, and let‘s not give him any more time on that, please."
Trump’s allegations against Pelosi are very real. As an example, in 2022, Paul Pelosi had a stock deal worth millions for semiconductor companies that was made only days before Congress voted to approve a $52 million subsidy to the industry. If you look at the history of Mr. Pelosi’s deals, he regularly traded stocks or options in companies that benefited from legislation passed soon thereafter.
I wish Trump would stop attacking solid congressmen and senators in such a public fashion. If he has an issue, he should pick up the phone. These public attacks will do little to help the party in the upcoming election cycle. Trump loves to compare himself to Ronald Reagan, yet he continuously breaks the 11th Commandment that Reagan held so dear.
