House Passes Bill to Restrict Stock Purchases by Lawmakers

The House of Representatives approved a new measure aiming to curb stock trading by government officials. The bill, known as the Stop Insider Trading Act, proposes that lawmakers, along with their spouses and dependent children, be prohibited from purchasing individual stocks in the future. However, it allows them to maintain and sell stocks they currently possess.

Additionally, the bill mandates lawmakers to announce their intentions to sell stocks covered under this regulation at least seven days, but no more than 14 days, before proceeding with a sale.

Image Credit: Eric Lee/Reuters

This legislative move comes after years of public pressure demanding greater transparency and accountability in stock trading activities by Congress members. The inclusion of a voter ID provision has cast doubt on the bill’s chances of passing in the Senate.