Senate Democrats block bill to limit lawmakers' stock trades
Summary
Senate Democrats blocked a Republican-led bill that would limit stock trading by lawmakers. The bill failed because Democrats said it was too weak and included a controversial voter ID rule that could affect mail voting.Key Facts
- The bill was called the Stop Insider Trading Act and passed the House with mostly Republican support and some Democrats.
- It would stop lawmakers, their spouses, and children from buying stocks and require them to announce stock sales a week in advance.
- Democrats wanted a full ban on stock trading by Congress members, the president, and his administration.
- A voter ID rule in the bill was rejected by Democrats, who said it would hurt mail voting.
- The Senate vote was 53-47, falling short of the 60 votes needed to pass.
- Senate Majority Leader John Thune, a Republican, called the bill common sense and said it would hold lawmakers to high standards.
- Senate Minority Leader Chuck Schumer criticized the bill for excluding the executive branch and called it ineffective.
- The vote took place ahead of the midterm elections and was seen as politically important for both parties.
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