Key facts
- The House approved legislation to prohibit members of Congress, their spouses, and dependent children from buying 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 bill.
The House of Representatives has passed legislation aimed at prohibiting members of Congress, their spouses, and dependent children from trading individual stocks. The bill, which passed with a 232-198 vote, includes exemptions for existing stock holdings, provided lawmakers give seven days' public notice before selling, and certain investments like widely held funds and some trust investments. However, the legislation does not extend the trading ban to the president or vice president. The bill's passage was complicated by Republican-added provisions, including a voter identification requirement, which some Democrats criticized as a "poison pill" designed to derail the legislation. Ethics groups have also raised concerns that the bill does not fully address potential insider trading and conflicts of interest. Stock trading by lawmakers has become a significant campaign issue amid voter distrust in Washington.