Senate Committee Advances Bill Banning Stock Trading by Congress, President

President Donald Trump initially expressed conditional support for a bipartisan bill led by Republican Senator Josh Hawley that would ban members of Congress, the president, and vice president from trading individual stocks while in office. The legislation, originally called the PELOSI Act and renamed the HONEST Act, aims to prevent elected officials from profiting off insider information and requires divestment within a set period. However, Trump reversed his stance later the same day, sharply criticizing Hawley on Truth Social for supporting a bill he claimed favored Democrats, particularly Nancy Pelosi and her husband, and accused Hawley of aiding the opposition’s agenda. Trump further disparaged Hawley as a "second-tier Senator" and objected to Hawley blocking amendments that would investigate Pelosi’s stock trades. Despite the backlash from Trump and some GOP senators, the bill advanced out of the Senate Homeland Security and Governmental Affairs Committee with bipartisan support, reflecting ongoing concerns over insider trading among lawmakers. The controversy highlights tensions within the Republican Party and the White House as they navigate ethics reforms affecting congressional and executive financial activities.