Jeffries Says House Democrats Oppose Any GOP Stock Trading Ban That Doesn’t Cover President, Cabinet

The Stop Insider Trading Act would bar members of Congress and their spouses from buying stocks.

House Minority Leader Hakeem Jeffries (D-N.Y.) speaks during a press conferece on Capitol Hill in Washington on Feb. 9, 2026. Madalina Kilroy/The Epoch Times

House Minority Leader Hakeem Jeffries (D-N.Y.) said on July 16 that any congressional stock trading ban Democrats would support should extend beyond Congress to the president and his administration, days before Republicans are expected to bring their own version to the House floor.

“If Republicans were serious about cleaning up corruption in this town, they would start at 1600 Pennsylvania Avenue,” Jeffries said at a press conference on Thursday, when asked how Democrats would answer Republicans who could use the vote against them in the midterm elections.

“House Democrats are going to hold him accountable and are going to clean up corruption and make sure that when we pass a stock trading ban, it will apply to members of Congress, along with the president, the vice president, and members of his corrupt administration.”

Jeffries did not say how Democrats would vote on the Republican bill. He said Republicans were “going to put forward potentially on the floor next week” a stock trading ban, adding, “We’ve heard a lot about bills that they’re going to advance, and that continues to fall apart.”

The bill’s sponsor, Rep. Bryan Steil (R-Wis.), wrote on X on July 15 that the measure is “headed to the House floor NEXT WEEK,” and “No lawmaker should profit off insider information.” Two Democrats are listed as cosponsors, Reps. Ed Case (D-Hawaii) and Josh Riley (D-N.Y.).

The Stop Insider Trading Act, H.R. 7008, would bar members of Congress, their spouses, and their dependent children from purchasing stocks. It would not require them to sell holdings they already own.

The bill defines a covered investment as a security issued by a publicly traded company or a comparable economic interest acquired through synthetic means, including options and warrants. It excludes excepted investment funds, interests in small business concerns, and assets held in trusts over which no covered individual has authority.

Members could still sell, but only after filing a public notice of intent at least seven calendar days and no more than 14 calendar days before the sale, listing the projected date, a description, and the number of shares. Those notices would be filed with the clerk of the House or the secretary of the Senate and posted publicly.

Violations would carry a fee of $2,000 or 10 percent of the transaction’s value, whichever is greater, plus any net gain realized, assessed by the supervising ethics office. Members could not pay the fee from their office allowances or campaign accounts, and the ethics office could refer a member to the Justice Department for retiring or resigning before paying. The restrictions would take effect 180 days after enactment.

The House Administration Committee advanced the bill 7–4 on Jan. 14, and it was reported to the full House on Feb. 3. House Speaker Mike Johnson (R-La.) has backed it.

Democrats objected to the measure’s scope when it moved through committee.

“While this bill prohibits members from buying new stocks, it does nothing to remove the conflict of interest that arises from owning or selling existing stocks,” Reps. Seth Magaziner (D-R.I.), Alexandria Ocasio-Cortez (D-N.Y.), and Pramila Jayapal (D-Wash.) said in a joint statement in January. “Members can still act on legislation, investigations, and briefings that directly influence the value of their stocks for personal benefit.”

A separate discharge petition to force a floor vote on a stock trading ban, filed by Rep. Anna Paulina Luna (R-Fla.) in December, had 84 signatures as of June 11, notably short of the 218 required. Of those who had signed, 15 were Republicans.

Jackson Richman contributed to this report.