Bipartisan Former Lawmakers Urge House Leaders to Ban Congressional Stock Trading

A bipartisan group of nearly 100 former members of Congress has pressed Speaker Mike Johnson and House Minority Leader Hakeem Jeffries to approve legislation banning stock ownership or trading for members of Congress and their families. The advocacy organization Issue One released a letter Tuesday signed by 90 lawmakers, comprising 60 Democrats, 28 Republicans, and two independents.

The signatories urged the advancement of what they call “the Restore Trust in Congress Act,” introduced earlier this year by Rep. Chip Roy. This measure prohibits members of Congress themselves, their spouses, dependent children, and trustees from possessing or trading individual stocks. The legislation mandates divestment under strict deadlines, with ethics officials empowered to enforce penalties.

The letter argues that enacting a stock-trading ban would be “a powerful step toward rebuilding trust” in the institution. It also references studies showing that public exposure to lawmakers’ stock trades significantly erodes trust and diminishes respect for law enforcement within Congress.

Rep. Anna Paulina Luna, R-Fla., has announced her willingness to file a discharge petition requiring a vote on this measure should leadership cooperate. Johnson previously expressed support in principle for such legislation but suggested it might require compensation tied to stagnant congressional payrolls before implementation can be considered seriously enough.

Jeffries, who hasn’t co-sponsored the bill despite its bipartisan nature, stated he “overwhelmingly supports” the ban but expects leaders like Speaker Johnson and Majority Leader Scalise may not prioritize passage while in power. He anticipates any vote could occur only after November 2026 should current leadership stall it.

Issue One will provide further details on this unfolding situation as necessary.