Mike Johnson favors ban on stock trading for members of Congress

House Speaker Mike Johnson came out in favor of a ban on stock trading for members of Congress.

However, the Republican also discussed counterarguments about the financial hardship faced by members.

"I’m in favor of that, because I don’t think we should have any appearance of impropriety here," Johnson said at a news conference Wednesday, when asked about congressional proposals to ban stock trading.

In recent years, momentum has grown to ban members of Congress from buying and selling stocks. The situation has come about because of reports that some lawmakers have made profits after making trades just before market dips or booms, despite laws that prevent them from using inside information.

Most recently, recalled The Hill, several lawmakers have come under fire for making stock trades shortly before President Trump announced a pause in more aggressive tariffs, "which pushed financial markets higher."

However, Johnson clarified that critics of the proposal argue that congressional pay has not increased since 2009, which amounts to a reduction in purchasing power of about 30% due to inflation.

"I mean, just people just make a reasonable decision as a family on whether or not they can come to Washington and have a residence here, residence at home, and do all the things that are required. So the counterargument is, and I have some sympathy, 'Look, at least let them, like, engage in some stock trading, so that they can continue to, you know, take care of their family,'" the Republican noted.