Senate Democrats block bill to limit lawmakers' stock trades, citing voter ID
5 hours ago
- Senate Democrats blocked a Republican-led bill restricting lawmakers' stock trades in a 53-47 party-line vote, falling short of the 60-vote threshold.
- The Stop Insider Trading Act, passed by the House with Republican and 13 Democratic votes, would ban lawmakers, spouses, and dependent children from buying stocks and require advance disclosure of sales.
- Democrats argued the bill was too weak, calling for an outright ban covering Congress, the president, and administration officials.
- Democrats opposed a voter ID provision included in the bill, saying it would undermine mail voting and was a poison pill.
- Senate Minority Leader Chuck Schumer called the bill ineffective and claimed Republicans designed it to fail.
- GOP leaders pushed the vote to put Democrats on record on issues ahead of competitive Senate races and the midterms.
- Senate Majority Leader John Thune defended the bill as common-sense, including both stock trading limits and voter ID requirements.
- Lawmakers have pursued congressional stock trading bans for years, and Schumer said Democrats are ready to pass a real ban if Republicans support one.