Virginia Democrat Blasts Pelosi And Hoyer For Delaying Bill Banning Congressional Stock Trading

Rep. Abigail Spanberger (D-VA) turned some heads this week when she called for new leadership in her own party after Speaker Nancy Pelosi (D-CA) scrapped plans to bring a bill that would ban lawmakers from trading stocks while in office up for a House vote.

She slammed top Democrats for engaging in what she called “delay tactics” to prevent the measure from going forward. The legislation is designed to prevent members of Congress as well as their spouses and dependent children from buying, selling, or trading individual corporate stocks.

House Majority Leader Steny Hoyer (D-MD) said the bill will “probably” not be getting a vote on the House floor anytime before the midterm elections on November 8.

Pelosi previously dismissed a reporter’s question about a prohibition on stock trading by lawmakers last December. She said, “This is a free market and people — we are a free market economy. They should be able to participate in that.”

Even though the Combating Financial Conflicts of Interest in Government Act was introduced in February, the actual legislative text was not released until Tuesday evening.

Hoyer said he had not read the bill and since it is a “complicated issue,” it “deserves careful study to make sure if we do something, we do it right.” He hypocritically observed that members of Congress should understand a law that will affect them, even though the House has regularly taken up bills hundreds or thousands of pages long when it would have been impossible for them to have had time to read the text, much less the public having an opportunity.

Spanberger released a press statement on Friday declaring: “Our job as elected officials is to serve the people — not ourselves,” She added that her Virginia constituents “overwhelmingly support” the bill and want to see it passed as soon as possible.

She first introduced a bill in January 2021 to ban lawmakers from trading stocks. The Transparent Representation Upholding Service and Trust (TRUST) in Congress Act saw bipartisan progress according to Spanberger before being subjected to “repeated delay tactics, hand-waving gestures, and blatant instances of Lucy pulling the football” by Democratic leadership.

Spanberger told Fox News in June that she did not want any help from Joe Biden in her reelection campaign this year. She noted that she outperformed Biden on the ballot in 2020 by “telling the people what I had done and what I was going to continue to do.”

Spanberger is facing off against Republican Yesli Vega on Election Day next month in her effort to retain the seat she first won in 2018. Vega is a political newcomer who has worked in local law enforcement as a patrol officer, field training officer, and hostage negotiator.