US House to vote on Stop Insider Trading Act as partisan divide widens

Published Jul 16, 02:15 PM UTC

The U.S. House of Representatives is preparing to vote on the Stop Insider Trading Act, a bill that would prohibit members of Congress, their spouses, and dependent children from buying new stocks while allowing them to keep existing holdings and trade diversified funds. The bill, led by House Administration Chair Bryan Steil (R-Wis.), has become partisan as Democrats oppose it for not including the president and vice president, arguing it is too weak. Republicans have added a voter ID requirement, further reducing Democratic support. A previous bipartisan consensus bill requiring lawmakers to divest stocks within 90 days stalled after a discharge petition failed, with Democrats blaming GOP leadership and Republicans blaming Democratic leader Hakeem Jeffries. The vote is expected before the August recess, with both parties using the issue for campaign messaging ahead of the midterms.