Congress only managed to pass 27 bills in 2023, but many of its members had a much more productive year in the stock market, according to a new report that highlights their trading performance—which was helped by the fact that those in Congress are exempt from certain insider trading rules. Some of these members saw the value of their portfolio grow by well over 50%
Thanks in part to some well-timed (maybe even suspiciously well-timed) trades, a third of the 100 members of Congress who reported financial transactions this year beat the S&P 500, which was up 24% in 2023, according to Unusual Whales, a stock and options news service. When broken out by party, Republicans earned an average of 18% returns on their trades, while Democrats earned 33%, according to the report. (The report says the difference is explained by Republicans’ having large parts of their portfolio in financials, oil, and commodities—all of which had rough years.)
