{"id":682,"date":"2026-07-22T23:38:51","date_gmt":"2026-07-22T23:38:51","guid":{"rendered":"https:\/\/americanindustryreview.com\/?p=682"},"modified":"2026-07-22T23:38:51","modified_gmt":"2026-07-22T23:38:51","slug":"congressional-stock-trading-bill-passes-the-house","status":"publish","type":"post","link":"https:\/\/americanindustryreview.com\/?p=682","title":{"rendered":"Congressional stock-trading bill passes the House"},"content":{"rendered":"
\n

Lawmakers took a step Wednesday toward reining in their own stock trading, a move Republicans hope will burnish Congress\u2019 image as they head home for an extended August break.<\/p>\n

Read more Jay Clayton heads toward DNI confirmation vote<\/a><\/p>\n

In a mostly party-line 232-198 vote, the House passed a GOP-led that would bar members of Congress, their spouses and dependent children from buying new stocks.\u00a0\u00a0<\/p>\n

\u201cIf you want to day trade, there\u2019s a place for that. It\u2019s called Wall Street,\u201d said House Administration Chair Bryan Steil, R-Wis., the bill\u2019s lead sponsor, during debate on the floor.<\/p>\n

Just 13 Democrats voted in favor. Others said the proposal doesn\u2019t go far enough, arguing it should ban stock ownership entirely or extend beyond Congress to the president.\u00a0<\/p>\n

\u201cIt\u2019s a terrible bill. It doesn\u2019t ban stock trading in Congress or anywhere else,\u201d said Rep. Seth Magaziner, D-R.I.<\/p>\n

Republicans muddied the waters this week, adding unrelated language that would require voters in federal elections to show photo ID at the polls. That\u2019s a key issue for President Donald Trump, even if it stops short of the much wider election bill he favors.<\/p>\n

\u201cRepublicans have corrupted their so-called stock-trading bill with a decaying piece of the SAVE America Act corpse,\u201d House Administration ranking member Joseph D. Morelle, D-N.Y., said during floor debate, calling the voter ID provision a \u201cpoison pill.\u201d\u00a0<\/p>\n

Members could keep their existing stocks under the proposal and also sell them off, so long as they give public notice at least seven days and no more than 14 days in advance. Violators could face fees imposed by the House and Senate Ethics panels of either $2,000 or 10 percent of the value of the transaction, whichever is greater, along with the net gain realized. An exception is included for widely held investment funds.\u00a0<\/p>\n

Rep. Tim Burchett, R-Tenn., backed the bill on the floor Wednesday after saying he would \u201cpray on it.\u201d He said he\u2019d like to see tighter restrictions but didn\u2019t want to \u201ckill\u201d the effort.<\/p>\n

\u201cI just don\u2019t think we\u2019re being genuine to the public about it, and we should ban stock trading by members of Congress. You should not own individual stocks. You ought to own a mutual fund like I do,\u201d he said.\u00a0<\/p>\n

The bill now heads to the Senate, where it faces an uncertain path. The lead sponsor of that chamber\u2019s version, Sen. Pete Ricketts, R-Neb., urged his colleagues to take it up, saying trust in Congress is \u201cat an all-time low.\u201d While a stricter bill aimed at blocking member stock ownership made it through the Senate Homeland Security and Governmental Affairs Committee last year, it has since stalled.<\/p>\n

Read more Appropriators ponder alternatives to annual shutdown threats<\/a><\/p>\n

Members of Congress have long faced questions about their stock profits, since they can learn sensitive, market-moving information in the course of their jobs. Though a 2012 law known as the STOCK Act already makes it clear they are not exempt from insider-trading prohibitions and requires them to promptly disclose their trades, it is rarely enforced.\u00a0<\/p>\n

Other efforts to crack down on stock trading have repeatedly lost steam. A bipartisan group in the House had built momentum earlier this Congress, unveiling a consensus bill that would require lawmakers to offload their stocks within 90 days of taking office. But that fell apart as Democratic leaders demanded any ban also extend to the president and vice president.\u00a0<\/p>\n

Frustration lingered for some members of the consensus group, but Rep. Chip Roy, R-Texas, said he was still happy to see Steil\u2019s effort on the floor, calling it a \u201cgood bill.\u201d<\/p>\n

\u201cObviously, voter ID is attached to it, so I\u2019m not sure what that means for getting it through the Senate. I wish we hadn\u2019t done that,\u201d Roy said. While he\u2019s a staunch supporter of voter ID, he said it would have been better to keep the issues separate and \u201csee where everybody lands.\u201d<\/p>\n

The vote gives House Republicans a messaging win ahead of the midterm elections, as they go back to their districts this summer and make the case they\u2019re serious about cleaning up Congress.<\/p>\n

Speaking to reporters Tuesday, Speaker Mike Johnson said the bill was \u201ca very logical thing to do.\u201d\u00a0<\/p>\n

\u201cDemocrats only talk about corruption. Republicans are actually delivering real solutions to actually restore the public\u2019s faith in our institutions because we believe in this country,\u201d Johnson said.\u00a0<\/p>\n

Several of the 13 Democrats who voted in favor \u2014 including Reps. Marie Gluesenkamp Perez of Washington and Vicente Gonzalez of Texas \u2014\u00a0are locked in tight reelection campaigns.\u00a0<\/p>\n

Asked about those colleagues Wednesday, Magaziner said he understood \u201cthat for members who are in tough races, it\u2019s hard to vote against anything that says \u2018stock trading ban,\u2019 even if it\u2019s not a real stock trading ban.\u201d<\/p>\n

The broader issue has already shown up on the campaign trail as a talking point. Former Rep. Elaine Luria, D-Va., for example, who is running against Rep. Jen Kiggans, R-Va., is now calling for a ban on congressional stock trading, after once dismissing that idea and arguing the STOCK Act was enough.<\/p>\n

Read more Bill to ban certain Chinese cars approved by Senate panel<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Lawmakers took a step Wednesday toward reining in their own stock trading, a move Republicans hope will burnish Congress\u2019 image as they head home for an extended August break. 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