Rep. Anna Paulina Luna (R-FL) released a statement on social media platform X in an attempt to get out in front of rumors circulating Capitol Hill that House leaders are going to try and shut down the House and place the blame on a discharge petition the congresswoman started to ban stock trading.
Luna stated her belief that Speaker of the House Mike Johnson (R-LA) and House Minority Leader Hakeem Jeffries (D-NY) are taking the effort to stop stock trading among members of Congress so seriously that they are planning to send House members home so they cannot sign on to the petition.
“Let’s put it this way,” Luna stated during an interview, “My legislation to ban insider trading is being taken so seriously, that I’m hearing that both leader Hakeem Jeffries and the speaker, and potentially House leadership, are considering sending members home, because they don’t want to have members sign on to the legislation.”
Luna said the legislation has “overwhelming” support from the American people, adding, “I think obviously this place can be a pressure cooker. You guys know this being in the press. I think every single member of Congress will tell you that,” the congresswoman added.
The Florida Republican then stated emphatically that despite all of the resistance from members of leadership who are seemingly protecting individuals like former Speaker Nancy Pelosi, she and those who support the legislation will continue to fight. “But again,” Luna said, “We’re not going to stop fighting. I can understand the frustrations, but I’m here to deliver wins. And I think we’re going to get a win. We’ll get negotiations for sure. I just hope CNN puts pressure on some of my colleagues to get on to that legislation.” Part of the reason for the effort to ban insider trading is due to how wealthy members of Congress, particularly Nancy Pelosi, have gotten during their time in public service.
According to the New York Post, Pelosi and her husband made a staggering $130 million in stock profits during her 37 years serving in Congress. That’s a mind-blowing return of 16,930%. Before she took office in 1987, Pelosi and her husband, Paul, a venture capitalist, reported between $610,000 and $785,000 in stocks as part of their stock portfolio.
The portfolio skyrocketed to $133.7 million, which is roughly where it sits as of this writing. Some of the stocks the couple own include holdings in CitiBank, along with a large quantity of companies that are no longer publicly traded. This number is unusually high, even when including compound interest, representing a 14.5% annual return, which exceeds the performance of the S&P 500, Dow Jones, and NASDAQ for those years, which hovered between 7% to 9%.
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