Omar Humiliated In Back-To-Back Legislative Losses In House

The Stop Insider Trading Act passed the House by a 232-198 vote, with 13 Democrats joining Republicans in support.

Under the bill, lawmakers and their immediate family members would be allowed to keep the individual stocks they already own and sell them over time.

The legislation would also require members of Congress to publicly disclose plans to sell stock holdings between seven and 14 days before completing a transaction.

The bill further establishes penalties for disclosure and trading violations, imposing a fine of either $2,000 or 10% of the transaction value, whichever is greater.

House Republicans combined the measure with provisions from another bill that would require voters to present photo identification to cast a ballot, a proposal that is one of President Donald Trump’s top legislative priorities ahead of the midterm elections, NOTUS reported.

Rep. Chip Roy, R-Texas, who has worked on several congressional stock-trading ban proposals over the past decade, said on the House floor Wednesday that he would have preferred a standalone vote on the stock-trading provisions.