Key facts
- The House approved legislation prohibiting members of Congress, their spouses, and dependent children from trading individual stocks.
- Lawmakers can retain existing stock holdings but must give seven days' notice before selling.
- Exemptions include widely held funds and some trust investments.
- The bill does not ban stock trading for the president or vice president.
- A voter identification requirement was added to the stock trading ban bill.
- House Republicans advanced President Trump's partisan budget plan, including $95 billion in new spending.
- The budget measure includes $60 billion for the Pentagon and $12 billion for farmers.
The U.S. House of Representatives advanced two significant pieces of legislation: a bill to ban members of Congress from trading individual stocks and President Donald Trump's partisan budget plan. The stock trading ban, which passed by a 232-198 vote, prohibits lawmakers, their spouses, and dependent children from buying individual stocks while in office. Existing holdings can be retained, but sales require seven days' public notice. Exemptions exist for widely held funds and certain trusts, and the ban does not apply to the president or vice president. However, the bill's prospects in the Senate are uncertain, particularly due to the inclusion of a controversial voter identification requirement, which Democrats have labeled a 'poison pill.'
Concurrently, House Republicans passed a budget measure with a 216-214 vote, paving the way for $95 billion in new spending. This funding is primarily allocated to the Pentagon ($60 billion) and farmers ($12 billion), with proponents arguing it supports troops and addresses agricultural costs. Critics, however, contend the bill will increase the national debt and lacks provisions to lower consumer costs like gas and food prices. The use of a special legislative procedure to bypass minority party say in the Senate has also drawn criticism.