UMVA has learned that former Congresswoman Elaine Luria's past actions on congressional stock trading are now at odds with her current stance on the issue, as she vies for office in one of the country's most competitive districts.
Luria, a Democrat who previously represented Virginia's 2nd Congressional District from 2019 to 2023, recently expressed support for legislation to ban members of Congress from owning or trading stocks, a stark reversal from her previous position.
At a recent candidate forum, Luria stated she would "support" the STOCK Act, proposals to limit trading for lawmakers, citing the importance of public trust. Her changed stance has raised questions about her past comments and actions.
In 2022, Luria dismissed a stock ban proposal as "bull----," highlighting the drastic shift in her opinion on the matter. Her campaign did not immediately provide a comment on her changed stance.
Records show that Luria had significant financial positions, including $250,000 in stocks with Alibaba, a Chinese company, making her the Democrat with the largest holdings in the House of Representatives in 2021.
Luria's husband also made a notable stock purchase, buying between $1,000 and $15,000 in Tesla Inc. stock in March 2021, as President Joe Biden's Infrastructure Investment and Jobs Act was being debated in Congress.
The bill ultimately included $7.5 billion in funding for electric vehicle charging stations, a provision that would benefit Tesla. Luria's husband made the purchase eight months before she voted for the bill, and before Tesla's stock jumped nearly 50%.
During her time in Congress, Luria's net worth skyrocketed from $1.13 million to over $22 million, raising questions about the impact of her stock trades on her personal finances.
Luria's time in office ended when she lost her re-election bid in 2023, but she is set to face off again against Republican challenger Jen Kiggans in the 2026 general election on November 3.
