STOCK Act To See Senate Action Today

The Senate is taking up the STOCK Act today, though the House continues to drag its feet.

The Senate meets at 2 p.m. for speeches, and then at 4:30 p.m. starts work on the Stop Trading on Congressional Knowledge (STOCK) Act, which aims to prevent members of Congress from making trades based on non-public information.

The Senate will vote at 5:30 p.m. on a motion to involve cloture on the Senate version of the bill, which was introduced last week by Sen. Joe Lieberman (I-Conn.).

The bill, in response to Breitbart editor Peter Schweizer’s “Throw Them All Out,” is seen as an attempt by Congress to police itself by preventing members from making trades based upon non-public information. Despite having over 200 sponsors, the bill has not yet advanced in the Republican controlled House, drawing criticism from Democrats.

Senate consideration of the bill, S. 2038, comes as House Republicans are still deliberating on how to proceed with legislation that limits members’ equity trading. House Financial Services Committee Chairman Spencer Bachus (R-Ala.) last month proposed a bill requiring members to set up blind trusts for their holdings.

Days later, House Majority Leader Eric Cantor (R-Va.) said Republicans are still considering how to approach the issue, and want to be sure all relevant committees have a say in how the House proceeds with a bill.

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