Three Florida lawmakers helped craft a ban on insider trading for members for Congress. And this one has the support of Speaker Mike Johnson.
U.S. Reps. Aaron Bean, Laurel Lee and Anna Paulina Luna, all Republicans, co-introduced the Stop Insider Trading Act with U.S. Rep. Bryan Steil, a Wisconsin Republican who chairs the House Administration Committee.
“Too many in Congress seem more focused on playing the markets than serving the American people,” said Bean, a Fernandina Beach Republican. “We can’t allow Crazy Town to prioritize its stock portfolios over the future of our nation. Our job is to represent the people — not to act like day‑traders with privileged information.”
Luna’s support could prove especially important. The St. Petersburg Republican last year led a discharge petition gaining bipartisan support to force a full ban on owning stocks to the floor, over the opposition of Democratic and Republican leadership. But Luna also maintained communications with Johnson on the issue hoping to reach a compromise.
At a Florida event alongside Gov. Ron DeSantis, Luna signaled a deal was near.
“We actually have met with the Speaker of the House and that we are going to be putting something on the floor coming up this quarter that will permanently stop the insider trading,” Luna said.
Johnson voiced his support for the new proposal, which would prohibit members of Congress, along with spouses and children, from directly purchasing stocks, and require seven-day public notice before they, or those close family members, can sell stock.
“No member of Congress should be allowed to profit from insider information, and this legislation represents an important step in our efforts to restore the people’s faith and trust in Congress,” Johnson said. “Both Republicans and Democrats will have an opportunity to make their voices heard and affirm their support.”
Only Republican members were listed as introducing co-sponsors. But the list of supporters included House Freedom Caucus members like U.S. Rep. Chip Roy of Texas, moderates like U.S. Rep. Mike Lawler of New York, and members of leadership including Majority Leader Steve Scalise of Louisiana.
