The Blubber

House Speaker Mike Johnson (R-La.) said Wednesday he supports efforts to prohibit members of Congress from trading individual stocks, while also recognizing the financial challenges such a ban could pose for lawmakers.

In his most detailed comments yet on the issue, Johnson told reporters at a press conference, “I support that, because I believe we should avoid even the perception of wrongdoing.”

Momentum has been building behind a proposal to ban congressional stock trading, following multiple instances where lawmakers appeared to benefit financially from well-timed trades ahead of significant market movements—despite existing laws that bar insider trading by elected officials. The latest controversy involved trades made just before President Trump paused major tariffs, sending markets higher.

Still, not everyone is on board. Johnson acknowledged arguments from opponents who point out that congressional salaries have been stagnant since 2009. When adjusted for inflation, lawmakers have effectively seen a 30% decrease in real income. The standard annual pay for most members is $174,000, while the Speaker earns $223,500 and other leadership roles make $193,400.

“There’s concern that if we keep going this way, fewer qualified individuals will be willing to make the personal and financial sacrifices it takes to serve in Congress,” Johnson said. “People have to weigh whether they can afford to maintain homes in both Washington and their district, support their families, and handle all that’s expected of them.”

He noted that some argue lawmakers should at least be allowed to trade stocks to help manage personal finances. “I understand that point of view,” he said.

However, Johnson concluded that, “All things considered, we probably should move forward with a ban. Unfortunately, the system has been exploited by a few, and that undermines trust in everyone.”