Hearing on lawmakers’ stock trading ban postponed after chair gets COVID

The Committee on House Administration has postponed its hearing on proposals to ban congressional stock trading after its chair, Rep. Zoe Lofgren (D-Calif.), tested positive for COVID-19. 

The committee’s spokesperson, Peter Whippy, confirmed the postponement to Insider on Monday, adding that a new date for the hearing, which had been set for Wednesday, hasn’t been scheduled. 

The hearing was set to consider the Stock Act and examine other proposals to bar stock trading among lawmakers and their families. 

It comes after an Insider report in December found that 1 out of 10 members of Congress failed to report their stock trades in a timely fashion, and that dozens of lawmakers and staffers had allegedly violated a conflict-of-interest law. 

House Speaker Nancy Pelosi (D-Calif.), who was initially against banning stock trading among lawmakers, came around to the idea after pressure from fellow Democrats and expressed support for the latest plan.

Lofgren, 74, shared her COVID-19 diagnosis on Sunday, saying she got tested in accordance with post-travel protocol. Lofgren added she is experiencing mild symptoms and will self-isolate at home, following the Centers for Disease Control and Prevention guidelines. 

A Democratic staffer told The Hill on Sunday that Lofgren attended a House Democratic retreat in Philadelphia, Pa., this weekend. 

“As part of regular protocol after travel, I tested for COVID-19 this morning & got a positive result (after testing negative earlier this week),” Lofgren said. “Thanks to protections from being vaccinated & boosted, I’m grateful to only be experiencing mild symptoms.” 

Lofgren’s diagnosis also comes shortly after fellow Rep. Rosa DeLauro (D-Conn.) shared Saturday that she has tested positive for COVID-19 in a breakthrough case after attending the House Democratic retreat as well.