Speaker Mike Johnson has publicly endorsed a proposed ban on stock trading by members of Congress, emphasizing the need to eliminate any perception of impropriety. Speaking at a press conference on Wednesday, Johnson acknowledged the controversy surrounding well-timed trades during recent market volatility, stating that such practices ‘discolor it for everyone.’ His support for the measure follows a broader push by Democrats, including House Minority Leader Hakeem Jeffries, who advocated for a similar ban last month.
The move has intensified calls for legislative action, with bipartisan lawmakers reinvigorating efforts to pass a comprehensive ban on individual stock trading, despite previous attempts to enact such rules failing. Members of Congress are already bound by the 2,012 STOCK Act, which prohibits trading on insider knowledge and mandates disclosure of their trades. However, critics argue that the existing regulations do not fully address the perceived lack of transparency in lawmakers’ financial activities.
Democrats have used the issue as a political lever, leveraging recent disclosures of Rep. Marjorie Taylor Greene’s stock purchases during a tariff-driven market dip to highlight GOP ethical concerns. Greene, a Republican from Georgia, bought stocks that rose sharply in value after the market rebounded, fueling accusations of profiting from insider information. This controversy has amplified the debate over whether current safeguards are sufficient to ensure congressional accountability in financial matters.
Johnson’s endorsement marks a significant shift in the congressional debate, which has previously been dominated by bipartisan discussions. His support suggests growing momentum for a legislative solution, though the exact details and implementation of such a ban remain unclear. With the pressure mounting from both within and outside the chamber, the prospect of a congressional stock trading ban appears more viable than ever before.