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Former Congresswoman Elaine Luria’s record on congressional stock trading — and a net worth that skyrocketed during her time in office — is clashing with the stance she’s touting as she pursues office in one of the country’s most competitive districts.
Luria, the Democrat who previously represented Virginia’s 2nd Congressional District from 2019 to 2023, told attendees at a recent candidate forum that she would “support” legislation to ban members of Congress from owning or trading stocks.
“I will say that this is an issue where I’ve changed my opinion over time. I will support the STOCK Act,” Luria said, referring to proposals to limit trading for lawmakers.
She framed her position as a matter of public trust.
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Rep. Elaine Luria speaks onstage during the Robert F. Kennedy Human Rights’ 2023 Ripple of Hope Gala in New York City on Dec. 6, 2023. (Mike Coppola/Getty Images)
“At first, I thought, well, you know, you elect people to Congress, they make important decisions. Don’t you trust them? And will you trust them with personal finances? And I came to see that, over time, really everything that Congress is doing has eroded that trust.“
The position stands in stark contrast with her own past comments on the issue and highlights how candidates in competitive districts are being forced to grapple with the issue.
When asked about a stock ban proposal in 2022, Luria told reporters that the “whole concept is bull—-.”
Luria’s campaign did not immediately respond to a request for comment on her changed stance.
At the time she left office, she had a number of documented financial positions, including $250,000 in stocks with Alibaba, a Chinese company — the most of any Democrat in the House of Representatives in 2021.
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Then-Rep. Elaine Luria sits on a dais in Congress as Rep. Jamie Raskin writes. (Alex Wong/Getty Images)
In another instance, Luria’s husband purchased between $1,000 and $15,000 in Tesla Inc. stock as President Joe Biden’s signature Infrastructure Investment and Jobs Act was making its way through Congress, according to disclosure records.
Among other provisions, the bill appropriated $7.5 billion in funding for electric vehicle charging stations, aiming to incentivize buyers away from combustion engines and reduce carbon emissions.
According to disclosures, Luria’s husband made the purchase in March of 2021 — eight months before Luria ultimately voted for the bill and before Tesla’s stock jumped nearly 50%.
In total, Luria’s net worth skyrocketed during her time in Congress, going from $1.13 million to more than $22 million.
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Former Rep. Elaine Luria, D-Va., speaks during a House Jan. 6 committee hearing on Dec. 19, 2022. Luria, a former Navy commander, is seeking a return to Congress in Virginia’s competitive 2nd District. (Al Drago/Bloomberg via Getty Images)
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Luria’s time in office came to an end when she lost in a 51.6% to 48.2% bid against Republican challenger Jen Kiggans.
Luria and Kiggans will face off again in the 2026 general election on Nov. 3.
