On May 14, House Speaker Mike Johnson, R-La., publicly expressed his support for prohibiting members of Congress from engaging in individual stock transactions during a press conference. This endorsement follows growing public criticism and a federal investigation triggered by dubious stock trades by lawmakers in 2020 during the pandemic.
Johnson acknowledged lawmakers’ stagnant salaries, noting adjusted pay is 31% lower than earlier years, and argued some rely on trading to manage congressional costs.
He acknowledged that the practice has been mishandled previously, with a few individuals harming its reputation, and emphasized a strict policy against any misconduct.
Johnson’s support strengthens bipartisan efforts to pass legislation banning members and their families from trading individual stocks, although obstacles remain.
