Senate Democrats block congressional insider trading ban from becoming law
The U.S. Senate failed to advance a bill Wednesday that would have banned congressional stock trading after every Democrat voted against it.
The Stop Insider Trading Act, introduced by Rep. Brian Steil, R-Wis., passed the House earlier this year with bipartisan support. It would bar members of Congress, their spouses, and their dependent children from buying new stock issued by public companies while in office.
“Democratic Senators have once again let Americans down by voting down the Stop Insider Trading Act,” House Majority Whip Tom Emmer, R-Minn., commented after the unsuccessful vote. “It is a shame that the Senate continues to vote down good, House-passed bills that the American people want to see made law.”
Senators now leave for recess and will not return until after the midterm elections, effectively killing the chances of the bill becoming law in the 119th Congress.
The Stop Insider Trading Act, introduced by Rep. Brian Steil, R-Wis., passed the House earlier this year with bipartisan support. It would bar members of Congress, their spouses, and their dependent children from buying new stock issued by public companies while in office.
“Democratic Senators have once again let Americans down by voting down the Stop Insider Trading Act,” House Majority Whip Tom Emmer, R-Minn., commented after the unsuccessful vote. “It is a shame that the Senate continues to vote down good, House-passed bills that the American people want to see made law.”
Senators now leave for recess and will not return until after the midterm elections, effectively killing the chances of the bill becoming law in the 119th Congress.
70-79, M
