House passes bill that would ban members from buying stock
Summary
The House of Representatives passed a bill that would stop members of Congress and their families from buying new individual stocks. The bill also requires voters to show photo ID to vote, which caused some Democrats to oppose the measure because of the voting rule and the bill's limited reach.Key Facts
- The House passed the bill by a vote of 232 to 198.
- The bill bans members of Congress, their spouses, and dependent children from buying new stocks but lets them keep or sell stocks they already own.
- The bill includes a voter ID requirement, meaning voters must show photo identification to cast a ballot.
- Some Democrats opposed the bill because it does not ban stock trading by the president, vice president, or others in the executive branch.
- Republican and Democratic members disagreed on combining stock trading rules with voter ID laws in a single bill.
- Representative Bryan Steil of Wisconsin leads the effort for the stock trading ban.
- Some lawmakers want the rule to cover all branches of government, not just Congress.
- President Donald Trump's recent financial disclosures show many stock trades by his advisers involving companies related to his administration.
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