Bill to limit stock trading in US Congress blocked in Senate
- On Wednesday, the Senate voted 53-47 on the Stop Insider Trading Act, but the measure failed to reach the 60-vote threshold needed to advance.
- The Stop Insider Trading Act passed the House in July with support from all Republicans and 13 Democrats, prohibiting lawmakers and their families from purchasing stocks while requiring advance sale disclosures.
- Calling the bill "as ineffective as a screen door on a submarine," Senate Minority Leader Chuck Schumer said it excludes the White House, while Democrats labeled the voter ID provision a "poison pill."
- Aiming to put Democrats on the record before the midterms, Senate Republicans moved the vote forward as they prepare for the campaign trail, following pressure from President Trump.
- Lawmakers have pursued efforts to ban congressional stock trading in recent years, yet this latest failure suggests political tensions within Congress will continue to obstruct a path toward consensus.
31 Articles
31 Articles
Senate votes down stock trading ban that critics say doesn’t go far enough
Legislation aiming to ban members of Congress from insider trading failed to meet the necessary 60-vote threshold Wednesday after Democrats voted against it. The Stop Insider Trading […]
Bill to limit stock trading in US Congress blocked in Senate
The US Senate on Wednesday blocked legislation placing new restrictions on stock trading by members of Congress, as Democrats refused to provide enough votes to advance the measure toward passage, arguing that it falls short of a full ban.
Senate Democrats Block Bill Restricting Stock Trading
“A House-passed bill to restrict members of Congress from buying and selling stocks failed on the Senate floor Wednesday in a party-line vote, with Democrats insisting it would not do enough to curb lawmakers’ trading,” Politico reports. Bloomberg: Lawmaker stock buying ban fails in Senate over clash on voter ID.
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Senate Blocks Congressional Stock Trading Restrictions After 53-47 Procedural Vote
The House-passed Stop Insider Trading Act fell seven votes short of advancing in the Senate after Democrats objected to its stock-trading exemptions and an attached ... The post Senate Blocks Congressional Stock Trading Restrictions After 53-47 Procedural Vote first appeared on [your]NEWS.
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