Rep. Mikie Sherrill (D-N.J.) has seen her net worth grow dramatically during her time in Congress. It’s grown an incredible $7 million, or more.
Jon Levine of The Washington Free Beacon reported that the New Jersey Democrat joined Congress only in 2019. But thanks to her lucrative stock trading, she is now a fabulously wealthy woman.
The Beacon reports are based on a range of assets, as federal financial disclosure forms mandate that assets be reported.
Sherrill reported assets between $733,209 and $4.3 million in 2019.
According to The Beacon, Sherrill’s assets could reach $13.975 million by 2024.
The Beacon reported that “Members of Congress make $174,000 per year, and Sherrill’s meteoric rise in net worth is due to the stellar performance of her portfolio of stocks.”
Sherrill has made hundreds of stock trades since she was elected to Congress. Most notably, during the COVID outbreak, when as a member of the House Armed Services Committee (HASC), she had access to information that the public did not have, according to the Free Beacon.
The 2012 Stock Act allows members of Congress to trade stocks as long as they report them within 30 days.
Sherrill was fined $400 for failing to report up to $350,000 worth of stock sales during December, reports the Free Beacon.
Last week, Sen. Josh Hawley (R-Mo..) reintroduced legislation that would prohibit members of Congress from trading or holding individual stocks. The Pelosi Act is the name of this bill.
Hawley said in a written statement that members of Congress “should be fighting for their constituents, not day trading to the detriment of them.”
The American people have watched as politician after politician made a profit by using information that was not available to the public. It’s high time that we banned all members of Congress to trade and hold stocks, and restored Americans’ faith in our nation’s legislative body.
The bill was named in honor of former House Speaker Nancy Pelosi (D-Calif..) because her husband’s suspected insider trading has brought him to the attention of many.
Sherrill, in the case of her office, stated that she stopped trading individual stocks before the pandemic. She also said this before receiving any briefings about it. The Free Beacon, however, reported that she made dozens more trades on July 17, 2020.
Sherrill was one of 43 legislators who co-introduced the TRUST Act in January, a House version bill that would prohibit members of Congress or their family members from trading stocks.
Carly Jones, a spokeswoman for Mikie, told The Free Beacon that her life was dedicated to public service. She has also been very clear about her commitments to transparency and accountability within government.
Sherrill, a Democrat, is one of many Democrats who are running for Governor of New Jersey this year.
