Speaker of the House Nancy Pelosi will hold a vote in September on legislation that would prevent members of Congress from trading or owning stocks while in office, a spokesperson told Fox News Digital Thursday.
The bill, which would also bar all spouses of congressional members and senior staffers from owning or trading stock, was reportedly held up in the lower chamber amid denials from Pelosi that her husband purchased stock based on insight she provided him.
The most recent text was expanded to include senior staffers in a more wide-sweeping measure than what was previous discussed by lawmakers who support the ban.
A source familiar with the bill confirmed that Californian Democratic Rep. Zoe Lofgren, who sits as Chair of the House Administration Committee, is hoping to release the text of the stock ban proposal as soon as next week.
The framework of the bill will require members of Congress, their spouses and senior staff to either put their assets in a qualified blind trust or to completely divest in their investment portfolios.
Mutual funds would be exempt from the proposal, a source confirmed.
"There are at least three proposals introduced in the House in this regard and the Speaker has asked the Committee on House Administration to review these proposals," Pelosi spokesman Drew Hammill told Fox News Digital. "The Speaker is committed to acting on a proposal in this Congress."
Pelosi found herself in hot water earlier this year after her husband Paul Pelosi – who has made millions of dollars worth of stock trades – purchased stock in a computer chip company.
Fox News Digital asked the speaker this month if her husband had ever made stock purchases or trades after hearing about the financial goings-on of Capitol Hill.
"No," Pelosi said. "Absolutely not."
Fox News' Houston Keene contributed to this report.