Sen. Mark Kelly (D-Ariz.) criticized House Speaker Mike Johnson (R-La.) on Sunday after the Louisiana Republican argued that lawmakers deserve some sympathy over stock trading limits, pointing to President Donald Trump’s disclosure of thousands of securities transactions earlier this year.
Kelly Calls For Broad Trading Ban
Kelly responded on X to a widely circulated clip of Johnson speaking to reporters last week. “Not surprised since Donald Trump, the guy Mike Johnson is performing for, made thousands of stock trades already this year,” Kelly wrote. “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.”
The clip showed Johnson saying, “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 the excerpt left out broader context. Johnson was discussing frozen congressional pay and whether it discourages qualified candidates from serving.
Johnson Says Pay Freeze Hurts Recruitment
“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,” Johnson said, according to a report by The Hill from last Wednesday. He argued that some lawmakers must weigh the costs of maintaining homes in Washington and their districts, then said the counterargument is to allow limited trading so they can support their families.
Rank-and-file members of Congress have earned $174,000 annually since 2009. Johnson said some lawmakers may struggle with the job’s financial demands.
Still, Johnson said 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 had not taken a firm position.
Trump Trades Sharpen Ethics Debate
The debate on lawmakers trading stocks sharpened 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. A spokesperson said Trump, his family and the Trump Organization did not direct individual investment decisions.
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