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Story summary
- House Administration Committee Chair Bryan Steil introduced the "Stop Insider Trading Act" to prohibit Congress members from buying individual stocks.
- The bill permits existing stock holdings but requires a seven-day notice before selling and restricts spouses and dependent children from stock purchases.
- Speaker Mike Johnson supports the bill, citing the need to restore public trust.
- Some Democrats, including Reps. Magaziner, Jayapal, and Ocasio-Cortez, criticize the bill for not addressing conflicts of interest from current stock ownership.
- A committee hearing is set for January 14, 2024, with a vote anticipated shortly thereafter.
