President Trump lashed out at Sen. Josh Hawley (R-Mo.) Wednesday for forging ahead with his proposed ban on congressional stock trading, accusing the senator of enabling Democrats to target him.
Hawley’s Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act cleared the Senate Homeland Security and Governmental Affairs Committee in an 8–7 vote, with the Missouri Republican joining all Democrats.
“Very much like SABOTAGE! The Democrats, because of our tremendous ACHIEVEMENTS and SUCCESS, have been trying to ‘Target’ me for a long period of time, and they’re using Josh Hawley, who I got elected TWICE, as a pawn to help them,” Trump groused on Truth Social.
“I don’t think real Republicans want to see their President, who has had unprecedented success, TARGETED, because of the ‘whims’ of a second-tier Senator named Josh Hawley!”
Hawley chafed with Sen. Rick Scott (R-Fla.), a key Trump ally during the committee’s hearing earlier in the day Wednesday.
“This idea that we are going to attack people because they make money is absolutely wrong,” Scott, the wealthiest member of the Senate, argued during the hearing.
“I think it’s disgusting what’s going on here. But I completely agree with you, we’ve got to stop people from trading stocks but this [bill] is way different.”
Scott also asked how one could sell an illiquid asset under the Hawley proposal.
“You’re concerned about the illiquid asset provision? It’s the same one you voted for last year,” Hawley shot back.
The PELOSI Act restricts lawmakers from owning individual stocks or trading them. Hawley faced opposition from Committee Chairman Rand Paul (R-Ky.) in advancing the legislation.
The bill includes language ensuring that the president and vice president would face the ban, but has a phase-in to ensure that Trump and Vice President JD Vance would not be impacted by it.
Trump seemed displeased with the language nonetheless.
“I wonder why Hawley would pass a Bill that Nancy Pelosi is in absolute love with — He is playing right into the dirty hands of the Democrats. It’s a great Bill for her, and her ‘husband,’ but so bad for our Country!” the president fumed on Truth Social.
“Why would one ‘Republican,’ Senator Josh Hawley from the Great State of Missouri, join with all of the Democrats to block a Review, sponsored by Senator Rick Scott, and with the support of almost all other Republicans, of Nancy Pelosi’s Stock Trading over the last 25 years.”
Hours before the Truth Social post, Trump conveyed open-mindedness to the proposal but cautioned that he would need to dive deeper into the details of it.
“I like it conceptually and you know Nancy Pelosi became rich by having inside information. She made a fortune with her husband, and I think that’s disgraceful,” he told reporters Wednesday. “I study these things really carefully, and this just happened. So I’ll take a look at it.”
“What I do think is Nancy Pelosi should be investigated.”
Paul Pelosi, the California Democrat’s venture capitalist husband, has amassed a fortune through investments he’s made over the decades.
Pelosi’s estimated net worth is $262 million, according to Quiver Quantitative.
“Pelosi should not just be investigated, but prosecuted. Needs to be illegal. You shouldn’t be able to get rich by trading on information that only you have,” Hawley later told Fox News’ “Watters’ World” Wednesday evening, brushing aside Trump’s attacks.
Critics, particularly Republicans, have argued that Paul’s activities pose conflict of interest concerns given that his wife is one of the most influential Democrats on Capitol Hill.
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” Pelosi spokesperson Ian Krager told The Post when asked about Trump’s comments.
