• House Republicans, led by the Freedom Caucus, push to ban lawmakers from trading stocks to address ethics and rebuild trust.
• Despite bipartisan support, disagreements on implementation have stalled progress.
• Freedom Caucus pressures Speaker Mike Johnson to prioritize accountability and transparency.

House Republicans, led by members of the Freedom Caucus, are ramping up efforts to ban members of Congress from trading stocks. This renewed push comes amid growing public support and bipartisan calls to address perceived ethical conflicts in lawmakers’ trading activities.

Renewed Pressure on Speaker Mike Johnson

On Friday, 11 members of the House Freedom Caucus, including Rep. Chip Roy of Texas, sent a letter to Speaker Mike Johnson, outlining their concerns and demands. Among their priorities, they emphasized the need to ban stock trading by lawmakers. The letter also included calls for sweeping changes, such as stricter immigration policies and significant federal spending cuts.

Rep. Roy, who has championed the TRUST in Congress Act, stated it was his idea to add the stock trading ban to the list of demands. He expressed frustration over years of inaction. “It’s been sitting out there for three or four years. It’s time to deal with it,” Roy said. He added, “I need to put my foot on the gas.”

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Although banning stock trading wasn’t labeled as the most pressing issue, Roy argued that it would help rebuild public trust in Congress. Rep. Andy Harris of Maryland, chair of the House Freedom Caucus, agreed, calling it a “small price to pay” for restoring confidence in lawmakers’ ethics.

Public Support for a Ban Gains Momentum

The idea of prohibiting congressional stock trading has drawn support from both Democrats and Republicans, including outgoing President Joe Biden and President-elect Donald Trump. Public opinion also heavily favors the measure, with many Americans viewing it as a critical step toward eliminating conflicts of interest in government.

Despite widespread agreement on the principle, Congress has failed to pass legislation on the issue. In 2022, the House came close to voting on a stock trading ban but ultimately stalled. Over the summer, a bipartisan group of senators introduced new legislation, but progress has remained limited.

Diverging Opinions on Implementation

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While most lawmakers agree on the need for reform, disagreement over the specifics has slowed progress. Some bills propose banning stock ownership entirely, while others focus on restricting active day trading. Rep. Andy Ogles of Tennessee, a Freedom Caucus member, supports banning frequent trading but allows for lawmakers to hold mutual funds or similar investments.

However, not all members of the House Freedom Caucus follow these principles. For instance, Rep. Byron Donalds of Florida violated federal disclosure laws on stock trades in 2024. A report from the Campaign Legal Center revealed that nearly half of House members and over half of senators own stocks, raising further questions about conflicts of interest.

Speaker Johnson’s Position Remains Unclear

As pressure mounts, Speaker Mike Johnson’s stance on the issue remains unknown. While his predecessor Kevin McCarthy supported a stock trading ban, Johnson has yet to publicly comment on the matter. His office did not respond to requests for clarification.

Currently, Rep. Roy and his allies are engaging Johnson and relevant committee chairs to push the legislation forward. However, the lack of consensus and competing priorities, such as border security and budget cuts, may delay action.

Next Steps and Call for Accountability

Despite the challenges, Freedom Caucus members appear determined to keep the issue in the spotlight. Roy hinted that failure to prioritize the ban could lead to challenges to Johnson’s leadership. “I’m tired of my colleagues sticking their heads in the sand,” he said.

The public’s view of Congress, as Rep. Ogles noted, is often marred by concerns over insider trading. Implementing a stock trading ban, he argued, would demonstrate that lawmakers are not above the rules governing other Americans.

What do you think about banning lawmakers from trading stocks? Should Congress act swiftly on this issue? Share your comments below.

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