U.S. House Passes Bill to Restrict Lawmakers from Trading Stocks

Odaily Planet Daily reports that, according to Politico, the U.S. House of Representatives passed a bill on Wednesday aimed at restricting members of Congress and their families from trading stocks. However, some Democrats believe the bill is insufficient, leading to divisions within the party. The bill, named the "Stop Trading on Congressional Knowledge (STOCK) Act," is the first congressional stock trading ban bill to be voted on by the full House. It passed with a vote of 232 to 198, including 13 Democratic lawmakers voting in favor. Out of a total of 93 lawmakers who co-sponsored the bill, only two were Democrats. Another, more restrictive bill, which would require lawmakers and their families to sell their current personal stock holdings, garnered broader bipartisan support but failed to reach a full House vote. Most Democrats consider the passed measure inadequate because it does not include a mandate to divest existing holdings. The bill will now be sent to the Senate for consideration. (Jin Shi)