The Republican congressman complains he doesn’t have the “damn money” for a wild ban on stock trading
Republican Rep. Dan Crenshaw complained about his low pay as a member of Congress and a new bill that would ban members of Congress and their spouses from stock trading.
Crenshaw was asked about the proposal to ban members from trading stocks The free press podcast on Tuesdays with hosts Michael Moynihan and Batya Ungar-Sargon.
“Yes. This is number 1,000 on my priority list of things to worry about,” Crenshaw said, dismissing the idea.
The former US Navy SEAL officer lost an eye in combat and was first elected to represent Texas’ second congressional district in 2019.
“Do you know how much money I’ve ever had in the stock market? About $20,000,” he said.
Crenshaw seemed cynical when asked if he would support the legislation.
“We just keep hitting ourselves,” he said. ‘What if we don’t make any money either? How about we just cut our paychecks; I haven’t gotten a raise since 2008.’
U.S. Rep. Dan Crenshaw (R-TX) weighed in on his congressional salary in a podcast interview
Members of Congress earn $174,000 a year includes extra money for travel and housing, but it didn’t seem enough for Crenshaw.
“It doesn’t matter to me because I don’t have any damn money to put in the stock market, contrary to the bullshit headlines written about me,” he complained.
A video of Crenshaw’s comments drew interest from the social media account Nancy Pelosi Stock Tracker, a group that tracks politicians’ stock trades.
His comments were highlighted with a community note on X to provide more context to his net worth.
Crenshaw’s estimated net worth is $1.47 million, and his trading volume is $313,000.’ according to data from Quiver Quantitative, not $20,000 as he claimed.
Michael Moynihan and Batya Ungar-Sargon of the Free Press podcast
Dan Crenshaw on The Free Press podcast
In 2018, Crenshaw had an estimated net worth of $2,459,016 according to OpenSecrets.org, which tracks money in politics.
The post also noted that Crenshaw’s shares were up 44 percent in 2024.
But Crenshaw has repeatedly pushed back against claims that he somehow benefits from the stock market because he is a member of Congress.
“This is one of those stupid things that got me dragged through the mud,” he said.
Crenshaw recalled when in January he stood up to Fox News host Jesse Watters, who aired a segment highlighting the uncanny success of members of Congress in the stock market, including former Speaker of the House of Representatives Nancy Pelosi.
“I’m sitting here feeding my three-month-old son and this filthy millionaire at Fox is accusing me of being a criminal without any evidence,” he said at the time.
Crenshaw has not purchased shares since March 2023.
“Of course that’s not true,” he said.
A proposed ban on stock trading by members of Congress and their family members is supported by a wide margin of Americans from both parties.
A 2023 poll on the issue conducted by the University of Maryland found that 86 percent of Americans supported the ban, including 87 percent of Republicans, 88 percent of Democrats and 81 percent of Independents.