Mike Johnson Argues Congress Needs Stock Trading to 'Support Their Families' Due to 'Frozen' Salaries
House Speaker Mike Johnson defended stock trading as a necessary income boost that allows members of Congress to "take care of their family."
Johnson noted that Congressional salaries have been frozen since 2009 while speaking to press on Wednesday. "When you adjust for inflation...Congress today is making 31% less than they made in that year. It goes down every year," he said. @couriernewsroom
While cutting Medicaid. ♬ original sound - COURIER
"If you stay on this trajectory, you're going to have less qualified people who are willing to make the extreme sacrifice to run for Congress," Johnson warned. "At least let them, like, engage in some stock trading so that they can continue to take care of their family."
The practice of Congress members engaging in stock trading has come under a renewed scrutiny following Trump's announcement of sweeping tariffs placed on trade partners around the globe. Many of the tariffs have since been renegotiated, with the market reacting to news of administrative policy changes.
Democratic Sen. Adam Schiff (D-MA) and Rep. Alexandria Ocasio-Cortez (D-NY) are among prominent politicians calling for an investigation into insider trading after NASDAQ call volume showed large spikes on April 9, just minutes before Trump announced a pause on tariffs for non-retaliating countries.
Congress members are required to file annual financial disclosures by May 15. "We're about to learn a few things," Ocasio-Cortez wrote on social media last month.
Capitol Trades, which tracks congressional trading, has already revealed some startling numbers. Freshman Rep. Rob Bresnahan (R-PA) — who introduced a bill to ban congressional stock trading — has made over $5.6 million with 490 trades since he was elected last November, according to the site.
"People just make a reasonable decision as a family," Johnson said, "On whether or not they can come and move to Washington, have a residence here, residence at home, and do all the things that are required."
Originally published on Latin Times
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