The U.S. Senate Homeland Security and Governmental Affairs Committee voted 8–7 on 30 July to advance legislation that would bar members of Congress, the president and the vice president from owning or trading individual stocks. Sponsored by Republican Senator Josh Hawley, the measure was first introduced as the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act and was rebranded as the Honest Act during negotiations to secure Democratic support. Democrats joined Hawley in backing the bill after it was amended to cover the executive branch, a provision the White House had lobbied against. The restrictions would take effect only at the start of new terms, meaning President Donald Trump and Vice President J.D. Vance would be exempt under the current draft. Former House Speaker Nancy Pelosi—whose personal trading history has long fueled calls for reform—issued a statement endorsing the measure and urging stronger transparency and enforcement. The bill now heads to the full Senate, reviving a debate that has stalled in previous sessions over how far any ban on political stock trading should reach and how it would be enforced.