00:00After months of negotiations, the House of Representatives passed a bill that would place new restrictions on stock trading by
00:06members of Congress and their families.
00:08More than a dozen Democrats joined with Republicans to pass the Bill 232-198.
00:13The proposal would bar members of Congress, along with their spouses and their dependent children, from buying individual stocks while
00:19in office, though they could still hold certain investment funds.
00:23Anyone wanting to sell individual stocks would have to provide advance notice, with violations carrying fines and possible ethics investigations.
00:30But, and this is a biggie, the bill also includes voter ID requirements, something unrelated to stock trading that was
00:36kind of shoehorned in.
00:38Notably, it's a provision that has drawn sharp Democratic opposition and could complicate its chances of becoming a law.
00:43Because even if it clears the House, the measure faces an uncertain future in the Senate, where there appears to
00:48be very little support for the bill in its current form.
00:51But the debate over the bill itself has also renewed scrutiny of some of Congress's most active traders.
00:57Data from Quiver Quantitative shows California Democratic Representative Ro Khanna's household reported the highest volume of trades last year, to
01:04the tune of nearly 66 million bucks in assets.
01:07Former House Speaker Nancy Pelosi's family also remains one of the most high-profile examples of congressional stock trading, making
01:13over $52 million worth of trades in the last year.
01:16Texas Republican Michael McCaul moved $48 million in trades, and Wisconsin Republican Tony Weed closed to $26 million.
01:24And those are just the bigger figures.
01:25Many more members of Congress stand to be limited by the bill as well.
01:28of Congresswedanı
01:28and of Congress stand to the Different pouch.
01:28of Congress
Comments