Insider trading by those who write our laws undermines trust in government and corrodes democracy. Congress has already enacted the STOCK Act, but loopholes remain. Senator Josh Hawley (R-MO) has reintroduced S.58, the Preventing Elected Leaders from Owning Securities Investments (PELOSI) Act, to close those gaps once and for all Congress.gov | Library of Congress. Here’s why you should pick up the phone and urge your representative to co-sponsor and pass S.58 immediately.
Why We Need S.58
- Eliminates Conflicts of Interest
Under current rules, Members of Congress—and even their spouses—can hold or trade individual stocks and related instruments while casting votes that affect those same companies. S.58 would prohibit all such holdings, allowing only diversified funds (e.g., index funds, mutual funds) and U.S. Treasury securities Congress.gov | Library of Congress.
- Restores Public Trust
Recent polls show that large majorities of both Democrats and Republicans favor a ban on congressional stock trading, fearing that lawmakers may exploit non-public information for personal gain. Passing S.58 would demonstrate that elected officials are subject to the same rules as everyone else.
- Broad Bipartisan Momentum
While some debate has been partisan—Republicans targeting Nancy Pelosi and Democrats eyeing figures like Marjorie Taylor Greene—the underlying concern is shared: insider trading by public servants must end. S.58 enjoys bipartisan support and builds on earlier efforts like the Eliminating Executive Branch Insider Trading Act.
- Tangible Enforcement
The bill mandates:
- Divestiture or blind trusts within six months of taking office
- Forfeiture of illicit profits back to the U.S. Treasury
- Increased penalties and ethics-committee oversight for violations Josh HawleyJosh Hawley
- Divestiture or blind trusts within six months of taking office
How to Take Action
- Find Your Representative’s Contact
Visit https://www.house.gov/representatives to locate your member’s phone number and email.
- Use This Script When You Call
“Hello, my name is [Your Name] from [City, State]. I’m calling to urge Representative [Name] to support and co-sponsor S.58, the PELOSI Act, which will ban Members of Congress and their spouses from trading individual stocks. This is crucial to eliminate conflicts of interest and restore trust in Washington. Thank you for your time.”
- Follow Up
Send a brief email with the same message and reference the bill number (S.58). Ask for a written response on where your representative stands.
- Spread the Word
Share this call to action with friends, neighbors, and on social media. Encourage them to make their voices heard, too.
The Stakes Are High
When lawmakers trade on information unavailable to everyday investors, it erodes faith in the system. Every dollar they make from insider knowledge is a blow to the principle of equal treatment under the law. S.58 is a straightforward, bipartisan solution—but it needs constituent pressure to cross the finish line.
Pick up the phone today and tell your representative: “Support S.58, the PELOSI Act, to bar insider trading by elected leaders.” Democracy depends on it.