President Donald Trump says that he is on board with the idea of banning members of Congress from trading individual stocks. 

Trump said as much during his recent interview with Time magazine.

Just because Trump would ban it, however, does not mean that it is actually going to get done.

As we will see, there are efforts to pass legislation enacting such a ban. The legislation, however, has faced significant pushback from members of Congress, who, obviously, have a lot to lose.

Trump weighs in

During the Time interview, Trump was asked directly, "Would you support a ban on congressional stock trading?"

The president responded in the affirmative, saying, "Well, I watched Nancy Pelosi get rich through insider information, and I would be okay with it. If they send that to me, I would do it."

The interviewer, just to make sure, asked, "You'll sign it?" to which Trump responded, "Absolutely."

A case-in-point

It is no coincidence that Trump's thoughts immediately went to U.S. Rep. Nancy Pelosi (D-CA), the former speaker of the U.S. House of Representatives, who continues to hold significant power in Washington, D.C.

The simple fact is that Pelosi and her husband have made heaping sums of money off of the stock market, and experts have suggested that the Pelosis' success rate is simply too high. This, of course, implies that there may be some insider trading going on here.

Just earlier this year, reports indicated:

The Nancy Pelosi Stock Tracker account on X.com, formerly Twitter, recently posted that the California Representative's investment portfolio returned 54% in 2024, beating the popular Inverse Cramer account's 43% gains to become the top portfolio on the Autopilot investment app.

Time to put a stop to this

In recent years, Pelosi and others have faced significant criticism for their too-good-to-be-true stock market success. This, in turn, has led some lawmakers to push for legislation that would ban members of Congress from trading stocks.

One such piece of legislation is being led by U.S. Sen. Josh Hawley (R-MO).

Fox News reports:

Hawley introduced the "PELOSI Act" in 2023, but failed to make progress under President Joe Biden's administration. The proposal has since gained popularity among lawmakers on both sides of the aisle, and President Donald Trump himself said last week that he would "absolutely" sign such a ban if it came to his desk.

"Members of Congress should be fighting for the people they were elected to serve—not day trading at the expense of their constituents," Hawley said.