Bresnahan Latest Lawmaker to Tell Congress: No Trading Stocks

Rep. Rob Bresnahan, a Republican from Dallas Township representing Pennsylvania’s 8th District, has introduced a bill aimed at eliminating stock trading among members of Congress and their spouses.

The proposed legislation, known as H.R. 3182 or the Transparency in Representation through Uniform Stock Trading Ban Act, would prohibit lawmakers and their spouses from buying, selling, or holding individual financial securities once they take office. Investments in diversified mutual funds would remain permitted. Violations of the proposed law could result in monetary penalties.

In a statement announcing the bill, Bresnahan emphasized the need to separate public service from private financial gain. He noted his intention to work with the House Committee on Ethics to transfer his own investments into a blind trust, saying, “The public deserves confidence that their representatives are making decisions in the national interest, not based on personal profit.”

Should the bill pass, it would take effect in January 2027.

Although the full legislative text was not yet available on the Library of Congress website as of Wednesday evening, a spokesperson for Bresnahan’s office acknowledged the delay and provided a copy to The Times-Tribune for review.

Bresnahan’s initiative follows a New York Times report citing data from Capitol Trades, a platform that monitors congressional trading activity. The report identified Bresnahan as one of the most prolific stock traders among new members of Congress. Within three months of taking office, he reported 264 trades, with purchases totaling up to $1.7 million and sales reaching as much as $3.03 million. His activity alone outpaced the combined trades of seven other Pennsylvania lawmakers tracked by the site.

Those legislators, Senators John Fetterman and Dave McCormick, along with Representatives Dan Meuser, Mike Kelly, Guy Reschenthaler, Dwight Evans, and Mary Gay Scanlon, collectively reported 243 trades.

Responding to the scrutiny, Bresnahan’s spokesperson said earlier this year that the congressman does not personally manage his investment portfolio. Instead, all transactions are handled by a financial adviser.

Discussions around the bill reportedly began as early as 2023, aligning with growing public support for restricting financial trading among high-level government officials. A 2023 University of Maryland poll found that most Americans favor banning trading activity by Congress members, the president, vice president, and Supreme Court justices.