Speaker Mike Johnson says congressional members are paid peanuts, need to trade stocks to support their families
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House Speaker Mike Johnson says members of Congress should be allowed to trade stocks so they can support their families. He said this while talking to the press on Wednesday.Johnson explained that Congress salaries haven't increased since 2009. He added that, after adjusting for inflation, members make 31% less now than in 2009.He warned that if this keeps going, "less qualified people" will want to run for Congress because it's a big sacrifice with not enough money.Johnson said, "At least let them, like, engage in some stock trading so that they can continue to take care of their family."This comes at a time when stock trading by Congress members is being closely looked at again. The reason is Donald Trump's announcement of big tariffs on global trade partners.These tariffs were later changed and the stock market reacted strongly to those changes. Some people noticed strange trading activity like big spikes in NASDAQ call volume on April 9, just minutes before Trump paused tariffs for some countries.Because of this, Sen. Adam Schiff (D-MA) and Rep. Alexandria Ocasio-Cortez (D-NY) is asking for an investigation into possible insider trading.Ocasio-Cortez posted on social media saying, "We're about to learn a few things," as Congress members must submit financial disclosures by May 15.A website called Capitol Trades, which tracks what Congress members are trading, found some surprising info.For example, Rep. Rob Bresnahan (R-PA), who wants to ban congressional stock trading, has already made over $5.6 million through 490 trades since he got elected in November.Johnson also said people need to make a "reasonable decision" with their family about whether they can afford to live in both Washington and their home state, and do everything the job needs.Q1. What did Mike Johnson say about Congress salaries?He said they haven't increased since 2009 and are worth less now.Q2. Why are people talking about insider trading in Congress now?Some stocks moved right before news about tariffs came out.
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