Representative Greg Steube (R-FL) is calling for the House to pass the PELOSI Act after Representative Nancy Pelosi (D-CA) announced her retirement from Congress.
"I have truly loved serving as your voice in Congress," Rep. Pelosi said in a video addressing her constituents. "With a grateful heart, I look forward to my final year of service as your proud representative."
The California Congresswoman has come under fire in recent years for her holdings in stocks while serving, which many perceive as insider trading.
"It's not right. It's not appropriate," said President Donald Trump in 2022. "I think she's clever in one way and stone-cold crazy. She should not be allowed to do that with the stocks ... It's not fair to the rest of this country."
As a result, Rep. Steube called on Congress to honor Pelosi's legacy by passing the PELOSI Act. "In honor of @SpeakerPelosi and her service to the Nation, @SpeakerJohnson should immediately call for a vote on the PELOSI Act, @RepMarkAlford and my bill to ban members of Congress from trading stocks," he shared on social media.
"I can't think of a better tribute than to pass this legislation named in her honor," Rep. Steube added.
The moniker "PELOSI" is an acronym for the "Preventing Elected Leaders from Owning Securities and Investments" Act, which, as its name suggests, bans members of Congress and their spouses from owning or trading individual stocks.
Representative Mark Alford (R-MO), the bill's primary sponsor, said upon its introduction in May, "as public servants, we should hold ourselves to a higher standard and avoid the mere appearance of corruption."
"Unfortunately, too many members of Congress are engaging in suspicious stock trades based on non-public information to enrich themselves," Rep. Alford continued. "These gross violations of the public trust make clear: we must finally take action to ban members and their spouses from owning or selling individual stocks."
