Liveupdate
Feb 25, 2026

Leavitt Slams Pelosi Over Stock Trades As Trump, Hawley Reconcile On Ban Effort

WASHINGTON, D.C. — The White House has intensified its campaign against congressional insider trading, with Press Secretary Karoline Leavitt delivering a blistering critique of former Speaker Nancy Pelosi. The move comes as the Trump administration signals its full support for the PELOSI Act, a legislative effort to bar members of Congress and their spouses from holding or trading individual stocks.

The "Pelosi Standard"

During a high-profile press briefing, Leavitt read a detailed list of trades made by the former Speaker and her husband, Paul Pelosi. She argued that Pelosi’s financial success is the primary reason the American public is demanding reform.

  • Outperforming the Greats: In 2024, Pelosi’s stock portfolio reportedly grew by 70%, more than doubling the returns of Warren Buffett’s Berkshire Hathaway and outperforming every major hedge fund on Wall Street.

  • Public Service vs. Enrichment: "The President stands with the American people on this," Leavitt stated. "He doesn’t want to see people like Nancy Pelosi enriching themselves off of public service and ripping off their constituents."

Trump and Hawley Reconcile

The push for the ban follow a brief but intense public disagreement between President Donald Trump and the bill’s sponsor, Senator Josh Hawley (R-MO). The conflict began after an amendment that would have exempted the current President from the trading ban was defeated, leading Trump to label Hawley a "second-tier Senator" on Truth Social.

However, the two have since reconciled following a direct phone call. Hawley clarified that the bill—the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act—already exempts the current President and Vice President, focusing its restrictions on future administrations and all sitting members of Congress.

Mechanics of the PELOSI Act

If passed, the legislation would fundamentally alter how lawmakers manage their personal finances:

  • Prohibited Actions: Members of Congress and their spouses would be strictly prohibited from buying, selling, or holding individual stocks.

  • Permitted Investments: Lawmakers would be restricted to diversified mutual funds, exchange-traded funds (ETFs), or U.S. Treasury bonds.

  • Restoring Trust: Senator Hawley emphasized the need to end "day trading at the expense of constituents," noting that the bill has gained traction among House Republicans and even some Democrats.

A Unified GOP Front

Speaker Mike Johnson (R-LA) has reportedly signaled his support for the measure, positioning it as a key "drain the swamp" initiative ahead of the 2026 midterms. While Senate Democrats recently teamed up with Hawley to defeat a Republican-led effort to force a specific report on the Pelosis' past trades, the broader momentum for a total ban remains at an all-time high.

The White House confirmed that discussions are ongoing with "friends on Capitol Hill" to move the legislation forward, signaling that the era of lawmakers "beating the market" through non-public information may be coming to a close.

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