Senate stalls congressional stock trading bill on party-line vote

A bill to restrict stock trading by members of Congress and their families stalled in the U.S. Senate on Wednesday, Sept. 30, on a party-line vote.

The cloture vote, a motion to end debate on whether to take up the bill, failed 53-47, short of the 60 votes needed. All 53 Republicans, including Alaska Sens. Lisa Murkowski and Dan Sullivan, voted yes. All 45 Democrats and two independents voted no.

The Stop Insider Trading Act would bar members of Congress, their spouses and dependent children from buying certain investments. It would require public notice seven to 14 days before selling a covered investment, but would not require members to sell investments they already own. Violations would carry a fee and a required sale of the investment. Rep. Bryan Steil, R-Wis., introduced the bill Jan. 12. The House passed it 232-198 on July 22.

Wednesday's vote keeps the Senate from taking up the bill for now. Sullivan's Democratic challenger, Mary Peltola, has said she supports a congressional stock trading ban.