Sen. Josh Hawley (R-Mo.) has reintroduced the aptly named PELOSI Act in Congress, which aims to ban members of Congress from engaging in insider trading.
The bill’s title, the PELOSI Act, stands for “Preventing Elected Leaders from Owning Securities and Investments” — which is essentially calling out former House Speaker Nancy Pelosi for the questionable way she made millions in the stock market.
“Most members of the public think it’s already banned,” Hawley explained in a statement regarding the proposed act. “And when I say, ‘Actually, it’s 100% legal,’ they say, ‘Why?’ And there’s no good answer to that question.”
“Nancy Pelosi is the poster child for all of this,” Sara Gonzales of “Sara Gonzales Unfiltered” comments. “I mean, you’ve seen her estimated net worth — $250 million.”
“I’m not a mathematician, but I have a hard time understanding how someone who makes $175,000 a year in Congress for the 289 years that she’s been alive somehow ends up with a net worth of $250 million,” she continues.
The act would not completely ban elected officials from investing, as they could still invest in mutual funds, ETFs, and U.S. treasuries.
However, Gonzales isn’t hopeful things will change.
“The problem here is that I don’t think this will ever happen, because there are too many people on both sides of the aisle who are doing this right now,” Gonzales says. “They are profiting off of their position, and it just feels like there’s no end in sight.”
“You’ve got a couple of good guys like Josh Hawley who’s like, ‘Hey, we should do this.’ You’ve got a couple of good guys like Ted Cruz who are like, ‘Hey, we should have term limits.’ And the rest of them are like, ‘Nah, let’s just do this forever and get really rich,’” she adds.
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