Sen. Mark Kelly (D-Ariz.) isn't buying the argument that lawmakers need to trade stocks to make ends meet. On Sunday, he went after House Speaker Mike Johnson (R-La.) for suggesting that members of Congress deserve some sympathy when it comes to stock trading limits. Kelly's response? Ban them all—including President Donald Trump and every cabinet member—and if they don't like it, they can find another job.
The dust-up started with a clip of Johnson speaking to reporters last week. Kelly fired back on X: "Not surprised since Donald Trump, the guy Mike Johnson is performing for, made thousands of stock trades already this year. I've got a better idea….ban Mike Johnson, Donald Trump, every cabinet member and every member of Congress from trading stocks and making money off of their jobs. If they don't like it, they can do something else."
In the clip, Johnson said, "We have to have sympathy. We need to at least let them engage in some stock trading so they can continue to take care of their family." But that was part of a broader argument about frozen congressional pay and whether it discourages qualified people from serving.
Johnson's full remarks, reported by The Hill last Wednesday, went like this: "If you stay on this trajectory, you're going to have less qualified people who are willing to make the extreme sacrifice to run for Congress." He pointed out that lawmakers have to juggle the costs of maintaining homes in Washington and their home districts, and argued that allowing limited trading could help them support their families.
Rank-and-file members of Congress have been earning $174,000 a year since 2009. Johnson said some lawmakers may struggle with the financial demands of the job. Still, he admitted that "on balance," he likely supports a stock trading ban because the practice has been abused and creates an "appearance of impropriety." He previously told NPR he was "open to the conversation" but hadn't taken a firm position.
The debate got a lot sharper after Trump disclosed at least $220 million in first-quarter transactions involving U.S. corporate securities, according to ethics filings released last Thursday by the Office of Government Ethics. The filings said the trades were made through third-party discretionary accounts, and a spokesperson said Trump, his family, and the Trump Organization didn't direct individual investment decisions.
Kelly's proposal is simple: no stock trading for anyone in a position of power. If that means some people don't want the job, so be it. It's a line that's likely to resonate with voters who are tired of seeing politicians get rich while in office.
