Senator Capito Purchases GE Aerospace Stock

Senator Shelley Moore Capito from West Virginia recently purchased GE Aerospace stock. GE Aerospace is known for manufacturing jet engines primarily for the U.S. military. Senator Capito holds a position on the Defense Subcommittee of the Senate Appropriations Committee, where she plays a role in voting on defense spending bills.

According to the STOCK Act passed in 2012, which mandates transparent disclosure of stock trades and prohibits insider trading based on non-public information, we are aware of Senator Capito’s recent stock purchase. While the act includes an insider trading ban, its enforcement history remains unclear.

There have been bipartisan efforts in Congress to prevent members from owning and trading stocks, yet they have not progressed significantly. Members of Congress are known for engaging in stock trading to generate income.

Former Speaker of the House Nancy Pelosi stands out as a prominent stock trader in Congress, along with her husband, amassing substantial profits through stock trading activities. Notably, the Pelosis bought over $1 million in Nvidia call options a week before a congressional vote on subsidies for the chip manufacturing industry.

Senator Josh Hawley from Missouri is leading bipartisan initiatives to restrict members of Congress from trading stocks. In 2023, he reintroduced a bill called The Pelosi act, officially known as The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act. This proposed legislation would bar members of Congress and their spouses from holding or trading individual stocks, requiring violators to return profits to the public.

Hawley emphasized the importance of preventing politicians from exploiting their regulatory power for personal financial gain. He raised concerns about elected officials influencing the market in their favor while neglecting the interests of hardworking Americans. In his view, a permanent ban on stock trading by lawmakers is essential to uphold integrity and accountability in government.