Name: Congressional stock trading ban bill to get first vote Wednesday
Uploaded: 2026-01-14T17:28:08.397Z
Duration: 2 min 52 s
Description: Congress is set to hold an initial vote on a bill that would prohibit lawmakers from purchasing new stocks while serving in office. However, critics to argue that it contains significant loopholes.

Congress is set to hold an initial vote on a bill that would prohibit lawmakers from purchasing new stocks while serving in office. However, critics to argue that it contains significant loopholes.

Washington

Congress is set to hold an initial vote on a bill that would prohibit lawmakers from purchasing new stocks while serving in office. The bill, sponsored by Congressman Brian Stile, allows lawmakers to continue trading futures and commodities, sell current stocks with public notice, and use dividends from existing holdings, leading critics to argue that it contains significant loopholes.

Democratic lawmakers are proposing a stricter alternative that would ban stock purchases by both lawmakers and the president, seeking broader reform. Despite Democratic opposition, Republicans have enough votes to advance the current bill, and party leadership has committed to a floor vote. The legislation has gained more momentum than previous efforts, amid strong public support for banning congressional stock trading.

Congressional stock trading ban bill to get first vote Wednesday

Congress kicking off an initial vote this hour to potentially ban stock trading by lawmakers. Our Emily Wilkins is here with the latest. Just one of many pots boiling today, Emily, good morning. Good morning, Carl. Yeah, look, lawmakers would no longer be able to buy new stocks while they're in office under this bill that is being debated right now. But critics are already saying that there are too many other loopholes that would allow members to benefit from insider information. That means even though the bill is actually likely to clear this vote, that's coming up in the next hour, it could struggle once it gets to the House floor, where a growing number of Democrats are opposing it as a watered down half measure. Under the bill, lawmakers can still trade futures and commodities, and they can sell their current stocks so long as they give seven days public notice. Plus, they can use dividends from stocks they already own and will be able to continue holding to purchase more shares. Now, the sponsor of the bill, Congressman Brian Stile, said the measure shouldn't be held up because it doesn't go as far as some lawmakers hoped. It's what I call the Goldilocks argument. The porridge is too cold. The porridge is too hot. This is an opportunity to say yay or nay. Do you believe your member of Congress should be trading stocks while they're in elected office? Democrats, meanwhile, are coming up with their own plan. Congressman Seth Magsiner tells me he plans to use a legislative mechanism to try to force a vote on his bill that would ban stock purchases not just from lawmakers, but also the president. If we get 218 signatures, we can force a vote. And we are going to be forcing this vote on a bill that the American people will support overwhelmingly that will make a real difference, not something watered down. Even if Democrats do oppose the bill in the panel vote today, the Republicans still have enough votes to move it forward. And then Republican leadership has already committed to putting this bill on the floor for a vote. So certainly a bit of a ways to go yet for this piece of legislation, but a lot more momentum than what we've seen with past efforts to ban congressional stock trading. Guys, what is the I don't understand. What is the opposition to it that it doesn't go far enough? What's their problem with it? That it doesn't go far enough. Sarah, exactly. I mean, some of the other bipartisan bills we've seen would actually require lawmakers to divest from current stocks and assets that they hold. This one would not require them to do it. And some lawmakers say, look, they can still trade other things, commodities, future diversified funds. And they want certain limits on that as well. But, again, Stiles' argument here is that you can't let perfect be the enemy of the good. And if this takes even a step forward, that's counted as progress. Certainly something that we've seen in polling that the American people really want to see happen here. So when it does get to the floor, there is going to be a lot of political pressure to vote yes. OK, Emily, keep us posted on that. Emily Wilkins on Capitol Hill.

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