Leavitt Targets Pelosi Over Stock Trades as Trump and Hawley Renew Congressional Ban Push
White House Press Secretary Karoline Leavitt reignited the long-running debate over lawmakers’ financial dealings this week, taking direct aim at former House Speaker Nancy Pelosi and portraying her as the symbol of Washington’s stock trading controversy.
During a press briefing Thursday, Leavitt listed several of Pelosi’s past investments alongside her husband Paul Pelosi’s business dealings, arguing that their portfolio performance far exceeded even top hedge funds. Her remarks followed reports that President Donald Trump had spoken by phone with Senator Josh Hawley (R-MO) to coordinate efforts on a new bipartisan bill banning members of Congress from trading individual stocks while serving in office.
“The very reason a stock trading ban for Congress exists as an idea is because of Nancy Pelosi,” Leavitt said. “She makes about $174,000 a year, yet she’s managed to build a net worth exceeding $400 million. That alone shows how distorted and corrupt the system has become.”
White House Confirms Trump–Hawley Coordination
According to Leavitt, President Trump had a “productive” conversation with Hawley earlier this week after the senator reintroduced his long-supported legislation to block congressional stock trading.
“The president took Senator Hawley’s call,” Leavitt confirmed. “He made it clear, as he did in the Roosevelt Room yesterday, that he supports ensuring public service is not used as a personal enrichment scheme.”
Insiders say the administration views this as an opportunity to push a widely popular reform issue that unites voters from both major parties.
Recent polling from the University of Maryland’s Program for Public Consultation found that 86% of Americans, across party lines, favor banning lawmakers from buying or selling individual stocks while in office.
Pelosi’s Financial Record Under Scrutiny
Pelosi’s investments have long drawn controversy, particularly after disclosures showed trades that coincided with congressional discussions affecting certain industries. Though Pelosi insists she’s done nothing improper, critics argue that her record raises ethical red flags.
Leavitt didn’t hold back when addressing the numbers:
“In 2024, Nancy Pelosi’s stock portfolio jumped 70% in one year,” Leavitt said. “Her returns beat every major hedge fund on Wall Street and even doubled Warren Buffett’s Berkshire Hathaway. It’s hard to tell struggling Americans to ‘tighten their belts’ while politicians are turning public service into a gold mine.”
Paul Pelosi, who manages their investments, maintains that all trades are based solely on public data, not insider information. Still, the optics have continued to damage public trust.
An Unusual Bipartisan Convergence
The idea of restricting congressional stock trades has gained momentum among both conservatives and progressives. Figures like Alexandria Ocasio-Cortez and Elizabeth Warren have echoed Republican calls for reform.
Sources say the Trump–Hawley phone call helped “reset” their relationship after months of tension.
“They both understand that cleaning up Washington isn’t a partisan goal — it’s a moral one,” a senior White House official said. “This isn’t about red or blue. It’s about showing the country that public office isn’t a get-rich-quick plan.”
Hawley’s proposed bill, a revival of earlier versions that stalled in Congress, would prevent lawmakers, their spouses, and dependents from owning or trading individual stocks. They would instead be permitted to hold diversified mutual funds or blind trusts.
Pelosi Pushes Back
Pelosi’s office quickly denounced Leavitt’s comments, calling them “political theater.”
“Speaker Pelosi has always abided by all disclosure requirements and supports transparency,” her spokesperson said. “The White House is trying to distract from its own shortcomings by recycling old talking points.”
Pelosi herself issued a brief statement from San Francisco:
“Members of Congress should be evaluated by their record of service, not by their investment portfolios,” she said. “My husband and I have followed every rule and reported every transaction.”
Despite that defense, Pelosi has faced repeated scrutiny — notably when her husband purchased semiconductor stocks in 2022 shortly before Congress advanced legislation benefiting the industry. Although he later sold at a loss, the timing fueled skepticism.
The Reform Effort Gains Steam
Momentum for a trading ban has grown steadily over the past three years amid growing frustration with the political class’s perceived insider advantages.
President Trump has frequently tied the issue to his broader “drain the swamp” message.
“We’re not in Washington to make millionaires richer,” Trump declared recently. “If you want to gamble on stocks, stay in the private sector. If you want to serve your country, then serve — with integrity.”
Leavitt reinforced that stance:
“The president stands with the people,” she said. “He’s not interested in seeing politicians like Nancy Pelosi turn taxpayer trust into personal wealth.”
Politics and the 2026 Midterms
The renewed spotlight on congressional stock trading comes as Republicans prepare for the 2026 midterm elections, framing the issue as proof of Washington’s self-dealing elite.
Democrats remain divided — some, like Rep. Abigail Spanberger (D-VA), support a total ban, while others advocate for softer reforms like blind trusts.
“We’ve talked about this for years, but Congress keeps dragging its feet,” Spanberger said. “Meanwhile, trust in government keeps eroding.”
Political analysts say that Trump’s involvement could add momentum but warn that real change will require bipartisan endurance.
Next Steps From the White House
Leavitt wrapped up her press conference by confirming that the administration is “actively drafting” the language of the potential bill with lawmakers from both parties.
“This is about rebuilding confidence,” she said. “If Washington can’t clean up its own house, the American people will.”
Whether the effort finally becomes law remains uncertain — but Leavitt’s fiery rebuke of Pelosi, coupled with Trump and Hawley’s renewed alliance, has once again thrust Congressional stock trading into the center of America’s political debate.