House Passes Bill Limiting Lawmaker Stock Purchases, Adding Voter ID
The measure would bar lawmakers and their families from buying individual stocks, while adding fines and advance sale disclosures.
- On Tuesday, House Speaker Mike Johnson announced that House Republicans are merging the Stop Insider Trading Act with a federal voter ID requirement, creating a single bill ahead of a floor vote.
- Pressure from the House Freedom Caucus drove this combination, as members recently used procedural leverage to stall floor business in pursuit of voter ID measures modeled on the SAVE America Act, a signature issue for President Donald Trump.
- The Stop Insider Trading Act prohibits members from purchasing individual stocks but does not require divestment of existing holdings, a limitation House Minority Leader Hakeem Jeffries opposed, saying there is "absolutely no justification" for exempting the executive branch.
- Democrats and the Campaign Legal Center have denounced the move as "partisan legislation," with Rep. Yvette Clarke calling the bill a "Trojan horse" that uses ethics reform to advance efforts to restrict access to the ballot box.
- With a narrow 218-214 majority, Speaker Johnson can afford only one Republican defection on any party-line vote, yet Rep. Tim Burchett of Tennessee has indicated he is leaning toward opposing the stock trading provisions as written.
124 Articles
124 Articles
Florida Democrats Back Stock-Trading Limits and Voter ID
WASHINGTON — Three Florida Democrats joined House Republicans this week to approve legislation combining congressional stock-trading restrictions with new photo-identification requirements for federal elections. U.S. Reps. Kathy Castor, Jared Moskowitz and Darren Soto voted for H.R. 7008, the Stop Insider Trading Act, helping the measure pass the House 232-198 on July 22. All House Republicans who voted supported the legislation. Thirteen Democr…
Nancy Pelosi’s stock empire crumbles, fellow Democrats pile on
The House on Wednesday passed a bill placing some limits on congressional stock trading — a practice long linked to outgoing former House Speaker Nancy Pelosi (D-CA). The Stop Insider Trading Act, introduced by Rep. Bryan Steil of Wisconsin in January, would prohibit members of Congress, their spouses and dependent children from purchasing publicly traded stocks. It would also require lawmakers to publicly disclose each intended sale of stocks a…
House Passes Stock Trading Ban With Voter ID Provision
Republicans forced House Democrats into a lose-lose vote on the Stop Insider Trading Act by pairing a popular congressional stock-trading ban with a voter ID requirement, and nearly every Democrat chose to oppose the whole package. The House approved the bill on a 232-198 vote Wednesday afternoon, with every Republican voting in favor and just 13 Democrats crossing over to join them. Rep. Kevin Kiley, an independent from California, also voted y…
House passes bill led by Congresswoman Mariannette Miller-Meeks to increase transparency on projects
The U.S. House of Representatives unanimously passed the Billion Dollar Boondoggle Act, led by Iowa's U.S. Rep. Mariannette Miller-Meeks and U.S. Sen. Joni Ernst. The legislation requires public disclosure of taxpayer-funded projects that run more than $1 billion dollars over…
Hillary Scholten votes against Stop Insider Trading Act
Congresswoman Hillary Scholten on Wednesday voted against putting a stop to insider trading in Congress. She didn’t bother to explain why on social media or through an official press statement. HR 7008, known as the Stop Insider Trading Act, aims to ban members of Congress, their spouses, and their dependent children from purchasing publicly traded stocks. The legislation would also require members to file a public notice within at least seven d…
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