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Over two dozen bills aimed at curbing congressional stock trading have been introduced during this session alone. But Steil’s bill marks the first time Republican leadership has backed a comprehensive, floor-ready plan, showing a seriousness previously unseen.
The timing is hardly coincidental. Pelosi’s financial record has become Exhibit A for the need for reform. Over her 38 years in Congress, Pelosi and her husband reportedly generated $133.7 million in stock profits—an astonishing 16,930% return that dwarfs the Dow Jones’ 2,300% gain over the same period. Reports in November revealed their portfolio surged 54% in 2024 alone, more than double the S&P 500’s 25% growth that year.
Paul Pelosi’s trades have drawn particular scrutiny. In November 2023, he bought 50 NVIDIA call options for $1.88 million that skyrocketed to $5.83 million by mid-2024. Weeks before a 10-for-1 Broadcom stock split in June 2024, he purchased 20 call options and later exercised them for 20,000 shares at a 71% discount to market price. Similar patterns played out across Microsoft, Amazon, Palo Alto Networks, and other major tech firms.
Republicans have been relentless in their criticism. RNC spokesperson Kiersten Pels stated, “If anyone else turned $785,000 into $133.7 million with returns better than Warren Buffett, they’d be behind bars for insider trading.” Social media has amplified the scrutiny: the Nancy Pelosi Stock Tracker on X boasts 1.2 million followers tracking her family’s trades, and investment funds like NANC and GOP have been created to mimic congressional stock activity. Portfolio manager Dan Weiskopf told CNN, “When Pelosi makes a trade, the market immediately moves because so many investors follow her decisions.”
Previous attempts to ban congressional stock trading repeatedly failed, often dying in committee. Pelosi, as Speaker, refused to bring any legislation to the floor. Bills introduced by Senators Jon Ossoff, Kirsten Gillibrand, Josh Hawley, and Representatives Chip Roy and Abigail Spanberger all stalled. Pelosi initially opposed a ban, arguing in 2021 that lawmakers should participate in the free market, and never followed through even when pressured to support reform.
The difference now is Republican leadership under Speaker Mike Johnson is actively moving legislation. Johnson expressed support in May, while also acknowledging the practical challenges lawmakers face managing two residences on a frozen $174,000 salary. Representative Anna Paulina Luna filed a discharge petition in December for a competing bill, but it only secured 74 signatures—far short of the 218 required.
Democrats remain divided, with some pushing to extend any ban to the executive branch, including former President Trump—a non-starter in the GOP-controlled House and Senate. Trump himself told reporters in April he would sign a congressional stock trading ban if it reached his desk.
With Steil’s markup hearing set for Wednesday, the bill is on track to reach the House floor in early 2026. Democrats who have long demanded reform now risk appearing hypocritical if they oppose the measure, while public support remains overwhelming: a 2023 University of Maryland poll found 86% of voters favor a ban.
For Pelosi and her fellow congressional traders, the writing may be on the wall. The gravy train that once delivered massive, market-beating profits could be coming to an end.
this was discussed years ag so why in the hell is it just now that action is taken?? what the hell