Bessent Slams Congressional Stock Gains, Urges Immediate Ban

* Treasury Secretary Scott Bessent calls for a congressional stock trading ban, citing eye-popping profits undermining trust. * Lawmakers are divided, even as bipartisan legislative efforts gain traction under increasing scrutiny. On August 13, 2025, Bloomberg reported that Treasury Secretary Scott Bessent called for Congress to stop trading individual stocks. He cited lawmakers' hedge-fund-beating profits, which he argued undermine public trust in government institutions. Bessent highlighted what he called the “eye-popping” financial gains of lawmakers, including former House Speaker Nancy Pelosi and Senator Ron Wyden. “People shouldn’t come to Washington to get rich. They should come to serve the American people,” Bessent stated. He emphasized that the perception of personal enrichment damages public confidence in government oversight and fairness. He added, “If any private citizen traded this way, the SEC would be knocking on their door.” Bessent’s remarks have bolstered bipartisan legislative efforts to address the issue. Congresswoman Anna Paulina Luna of Florida intends to file a discharge petition in September to force a vote on a stock trading ban. At the same time, House Speaker Mike Johnson is reportedly working to block such legislation. The proposals have sparked division, drawing both support and opposition from Republicans and Democrats. A spokesperson for Pelosi responded to the claims, stating that Pelosi “does not own any stocks and has no knowledge or subsequent involvement in any transactions.” Senator Wyden, meanwhile, pointed to a recent social media post where he reiterated his support for a ban on congressional trading. Debates over congressional stock trading practices have persisted for years. Earlier this year, Democrats criticized Representative Marjorie Taylor Greene for trades she made before former President Donald Trump announced tariff policy changes. In April, Senator Josh Hawley reintroduced the PELOSI Act. This legislation aims to bar lawmakers and their spouses from trading stocks, and its name references the scrutiny over Pelosi’s financial history.