Congressman Biggs Votes to Stop Insider Trading by Members of Congress

GILBERT, ARIZONA- Last week, Congressman Biggs voted to pass H.R. 7008, the Stop Insider Trading Act. The legislation bans Members, spouses and dependent children from purchasing securities issued by a publicly traded company. It also requires Members to file a public notice with the Clerk of the House well in advance of any intended stock sale.

This legislation is not a reaction to a hypothetical scenario. According to a recent report, “Congress members had made 13,324 trades totaling a whopping $635.57 million” in 2025 alone. One of the nation’s most infamous traders, Nancy Pelosi, entered Congress in 1987 with a portfolio under $800,000. Today, it’s worth more than $130 million—a return of nearly 17,000 percent. Her family’s net worth has grown from about $3 million to an estimated $280 million. And it’s not just her profiting off the stock market while professing to serve the people’s interests. Democrat and Republican portfolios routinely beat the S&P 500. That is not luck. It’s access. This bill closes that loophole.

“Every year, public opinion polls of Congress show that the American people have less trust in this institution,” said Congressman Biggs. “As Members of Congress, we have a duty, not only to serve the people’s interests, but to restore as much trust in our body as possible. One significant step toward earning back trust is banning the insider trading loopholes that have infuriated hardworking citizens across the country. No Member of Congress should give any appearances that they are making money for themselves by abusing the public’s trust. I was pleased to support the bill and hope it is signed into law.”

###