CBS News
The House on Wednesday passed a bill placing some limits on congressional stock trading, but the lack of tougher restrictions and the inclusion of a voter ID provision complicated its support among Democrats.
Lawmakers approved the bill in a 232 to 198 vote, with 13 Democrats voting with all Republicans in favor.
The Stop Insider Trading Act, introduced by Rep. Bryan Steil of Wisconsin in January, would prohibit members of Congress, their spouses and dependent children from purchasing publicly traded stocks. It would also require lawmakers to publicly disclose each intended sale of stocks at least seven days in advance to the House clerk or Senate secretary. The penalty for a violation is $2,000 or 10% of the transaction’s value, whichever is greater, as well as the forfeiture of any realized gains from the sale.
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