Senator Rand Paul says he’s against a proposed ban on stock trading by members of Congress—partly because it could deter President Donald Trump from seeking a third term, which would require a constitutional amendment.
Appearing on Fox Business, the Kentucky Republican argued the legislation could discourage wealthy, successful individuals from running for office.
“Part of the bill would prohibit the president from buying or selling stocks while in office and would not include the same divestiture exemptions,” Paul explained. “That means future presidents wouldn’t be allowed to own assets. So if Donald Trump were president again—and some say he might run for a third term—he’d be forced to sell everything. He has a very complex financial empire. Many people wouldn’t want to go through that process, especially in a down market.”
Paul added that such restrictions “discourage successful people” from public service.
Trump has not publicly stated he intends to pursue a third term, but the possibility remains a talking point among some of his closest allies. During a May interview with NBC, Trump said he wasn’t planning to seek a third term.
“It’s something that, to the best of my knowledge, you’re not allowed to do,” Trump said. “I’m looking to have four great years and turn it over to somebody—ideally, a great Republican—to carry it forward.”
However, allies like Steve Bannon have floated legal and political paths to extend Trump’s presidency beyond 2028. In May, Bannon told an interviewer he was pursuing “five or six different alternatives,” adding, “Four or five of them will work. On the afternoon of January 20th, 2029, Donald Trump will be president for his third term.”
Meanwhile, Trump lashed out at Sen. Josh Hawley—the only Republican supporting the stock trading ban—despite Hawley being a longtime ally. In a Truth Social post, Trump blasted him for joining Democrats in opposing a GOP-backed review of former House Speaker Nancy Pelosi’s stock trading activity.
“Why would one ‘Republican,’ Senator Josh Hawley from the Great State of Missouri, join all of the Democrats to block a review of Nancy Pelosi’s stock trading over the last 25 years?” Trump wrote.
“The Democrats have been trying to target me for a long time, and now they’re using Josh Hawley—who I got elected TWICE—as a pawn.”
The bill, led by a bipartisan group of lawmakers, aims to crack down on potential conflicts of interest by prohibiting members of Congress, their spouses, and dependent children from buying and selling stocks while in office. The proposal has gained traction amid growing public concern over lawmakers profiting from insider knowledge.
