Treasury Secretary Scott Bessent on Wednesday called for banning members of Congress from trading individual stocks, adding momentum to bipartisan legislative proposals. In a Bloomberg interview, Bessent said the “eye-popping returns” of some lawmakers — including Rep. Nancy Pelosi and Sen. Ron Wyden — undermine public trust.
“It is the credibility of the House and the Senate … the American people deserve better,” Bessent said. He argued that if a private citizen traded similarly, “the SEC would be knocking on their door.”
The proposal comes as House and Senate leaders face pressure from both supporters and opponents of a trading ban. Speaker Mike Johnson has resisted a floor vote, while some members have voiced strong opposition.
Wyden’s office pointed to his public support for a ban and accused Bessent of “running interference” for Jeffrey Epstein by withholding bank records from the Treasury. Pelosi’s office said she does not own stocks or direct transactions.
Sen. Josh Hawley has championed his PELOSI Act, and Democrats have criticized Rep. Marjorie Taylor Greene for stock purchases ahead of a Trump tariff shift.
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