Florida Governor Ron DeSantis is taking a firm stance in support of a federal initiative aimed at banning members of Congress from trading stocks. During a recent visit to Clearwater alongside U.S. Representative Anna Paulina Luna, DeSantis underscored the need for transparency and integrity in congressional financial dealings. He is advocating for Florida’s legislative body to mandate that congressional candidates disclose their intentions regarding stock trading while in office.
The proposed legislation, known as the “Restore Trust in Congress Act,” is spearheaded by Luna, who is working to gather the necessary support to prompt a vote in the House. DeSantis has urged Florida’s congressional delegation to rally behind this initiative, expressing concern over the notable trading successes of certain lawmakers. He remarked on the peculiar trend whereby newly elected officials often outperform seasoned investors – even surpassing major hedge funds – in stock trading, raising eyebrows about the ethical implications.
Citing former House Speaker Nancy Pelosi, DeSantis highlighted how her stock portfolio, managed by her husband, has consistently outperformed major market benchmarks since her election to Congress in 1987. This situation, he noted, casts a shadow over the integrity of lawmakers who may have access to nonpublic information that influences market conditions.
Luna’s effort to push for this legislation is gaining momentum, with her discharge petition currently holding 74 of the required 218 signatures to bring the stock trading ban to a vote. Meanwhile, DeSantis is advocating for additional measures within Florida to address insider trading concerns among its congressional representatives, suggesting that candidates be obliged to affirm through their qualifying paperwork that they will refrain from stock trading while serving in office.
DeSantis emphasized the responsibility of voters to hold elected officials accountable for honesty in their official disclosures, pointing out that it remains within Florida’s power to enforce such a mandate. While it is already against the law for members of Congress to engage in insider trading, enforcement of this regulation has proven infrequent, particularly highlighted by instances where lawmakers engaged in trading during critical moments, such as the early days of the COVID-19 pandemic.
As the 2026 legislative session approaches, which begins on January 13, no formal proposal has yet been filed regarding the stock trading initiative. With the focus on ethical governance gaining traction, both DeSantis and Luna remain committed to driving this conversation forward both at the federal and state levels.
