Senator Josh Hawley is reintroducing the 'PELOSI Act' to ban members of Congress and their spouses from trading stocks while in office, aiming to prevent politicians from profiting through insider information. The bill, previously stalled under Biden's administration, has gained bipartisan support, with President Trump expressing his willingness to sign it into law. The proposed legislation would require current lawmakers to comply within 180 days, restricting them to investments in mutual funds, ETFs, or U.S. Treasury bonds. Violations would lead to profits being forfeited to the U.S. Treasury and potential fines imposed by ethics committees. Named after Nancy Pelosi, the act addresses public concerns over lawmakers' stock market gains, aiming to restore trust in the legislative body.

Senator Josh Hawley is pushing to reintroduce the 'PELOSI Act,' which seeks to prohibit lawmakers and their spouses from trading stocks to prevent financial gains from insider information.

The legislation failed to progress under President Joe Biden but has gained traction among both Democratic and Republican lawmakers, with President Trump expressing his commitment to signing it if it reaches his desk.

Key provisions of the bill include a 180-day compliance period for current and newly elected lawmakers to divest from individual stocks, allowing investments only in mutual funds, ETFs, or U.S. Treasury bonds.

The act is named after former Speaker Nancy Pelosi, who has been criticized for profiting from stock trades during her time in Congress, highlighting concerns about the ethical implications of such activities.

Lawmakers violating the trading ban would need to surrender profits to the U.S. Treasury, and ethics committees could impose fines totaling 10% of each wrongful transaction.

The proposal is seen as a step toward rebuilding public trust in Congress by ensuring that elected officials prioritize their constituents' interests over personal financial gains.

Democratic support in the House of Representatives, including backing from House Minority Leader Hakeem Jeffries, indicates a strong bipartisan push to advance the legislation.