The bill would only apply to future administrations, not Trump’s.
Key Facts
The Senate Homeland Security and Governmental Affairs Committee voted 8-7, with all Democrats and Hawley voting to advance it.
Trump called Hawley a “second-tier senator” in a Truth Social post after the vote and accused him of “playing right into the dirty hands of the Democrats.”
The initial legislation was called the Preventing Elected Leaders from Owning Securities and Investments Act (PELOSI), a dig at Rep. Nancy Pelosi, D-Calif., who has been heavily criticized for earning millions from trading stocks, sparking accusations of insider trading (which she has denied, and has supported previous legislation to ban congressional stock trading).
In negotiations with Democrats, Hawley agreed to subsite the PELOSI Act for a similar bill known as the Honest Act in exchange for adding a provision that would include the president and vice president in the ban.
