Stevens joins bipartisan push to ban stock trades by Congress members, families

LANSING, Mich. (WLNS) — U.S. Rep. Haley Stevens (D-Birmingham) is planning on co-sponsoring legislation that would ban members of Congress and their families from trading stocks, her office told 6 News.

Introduced alongside U.S. Reps. Andrea Salinas (D-Ore.), Eric Sorenson (D-Ill.) and Derek Tran (D-Calif.), the legislation is dubbed the “No Getting Rich in Congress Act” and is aimed at preventing members of Congress from profiting from insider trading, a tactic that has been under increased scrutiny.

FILE – Rep. Haley Stevens, D-Mich., joined by House Minority Leader Hakeem Jeffries, D-N.Y., speaks during a press conference on Capitol Hill, Thursday, Feb. 6, 2025, in Washington. (AP Photo/Rod Lamkey, Jr., File)
“The American people deserve leaders who are working for them, not for their stock portfolios, not for corporate board seats, and not for foreign adversaries,” Stevens said. “Michiganders want results from their government, not self-dealing. The No Getting Rich in Congress Act draws a clear line: public servants must put their communities first, not profit.”

The bill would ban trading in stocks by public officials and their families, including those in the executive and legislative branches, but not the judicial branch. It would also prohibit lobbying on behalf of foreign governments and bar public officials and their spouses from serving on corporate boards. It would also extend ethics rules — such as reporting and conduct requirements for gifts and travel — to families of public officials.

Polls consistently show Americans support stricter limits on stock trading among members of Congress. A New York Times investigation from 2019 to 2021 found that nearly one-fifth of members of Congress or their family members traded stocks. In one example, Rep. Alan Lowenthal, a California Democrat, disclosed that he sold Boeing shares one day before a House committee he sat on released damaging findings on the company’s handling of its 737 Max jet, which was involved in two fatal crashes.

Former Rep. Marjorie Taylor Greene, a Georgia Republican, was an active stock trader in Congress. Moneywise, which framed her portfolio as “one of the best investment runs ever by a sitting politician,” noted that she executed more than 450 stock trades since joining the House, including investments in artificial intelligence, Amazon and Tesla.

She also purchased Palentir shares on April 7 and April 8, 2025, three days before U.S. Immigration and Customs Enforcement awarded Palentir a $29.9 million contract for a surveillance system. At the time, Greene sat on the Homeland Security committee in the U.S. House. In an email to Snopes, Greene said she doesn’t sit on the subcommittee that oversees ICE and said her portfolio manager made the trade without her knowledge.

Members of Congress are allowed to buy and sell stocks, but are required to disclose trades over $1,000 after a 2012 bill. A 45-day delay is built in to prevent investors from copying trades in real time. Stevens’ bill to ban stock trading in Congress is not the first, and likely won’t be the last.

Rep. Tom Barrett (R-Charlotte) introduced legislation in January that would prohibit members of Congress from trading stocks.