The U.S. House of Representatives has passed a bill aimed at limiting lawmakers' ability to trade stocks, though its path forward is now complicated by the addition of a voter identification requirement. The legislation, known as the Stop Insider Trading Act, passed Wednesday evening with a vote of 232 to 198.
This outcome saw 13 Democrats joining all Republicans in supporting the bill. However, the inclusion of a voter ID mandate, which is part of President Donald Trump's SAVE American Act, has drawn criticism. New York Democrat Representative Joseph Morelle described the voter ID addition as a "poison pill," suggesting it could hinder the bill's progress in the Senate.
The Senate has not yet scheduled a vote on the House bill, leaving its fate uncertain. The House is set to adjourn for its August recess at the end of the week, while the Senate has one more week in session.
The Senate has previously advanced its own, more comprehensive stock trading ban. Led by Missouri Republican Josh Hawley, the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act, later renamed the HONEST Act, would prohibit members of Congress from trading or holding stocks. This Senate bill also includes a ban on stock trading for the president and vice president.
Former House Speaker Nancy Pelosi has been noted for her significant stock trading disclosures during her tenure. Hawley's initial proposal, named after Pelosi, was met with opposition from former President Trump, who at the time criticized targeting the presidency based on the actions of a senator. Hawley's bill passed the Senate Homeland Security and Governmental Affairs Committee but never reached a full Senate vote.
"We've worked on this for years, and it's really simple. It bans members of Congress from trading stock. It's not that hard," Hawley stated last year regarding his bill.