Named after former House Speaker Nancy Pelosi (D-CA), whose financial dealings have long raised questions, the bill directly targets the insider privilege, allowing lawmakers to profit off the markets while shaping policy.
The bill comes after revelations last year that Nancy’s husband, Paul Pelosi, traded between $1 million and $5 million of stocks for semiconductors just days before Congress allocated $52 million to the industry. The stocks were later sold at a loss to remove the appearance of impropriety.
House Speaker Nancy Pelosi on Thursday suggested that she will consider proposals banning members of Congress from trading stocks while in elective office, a sharp reversal from just a month ago when she adamantly defended the practice.
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