Democrats Slam GOP Stock Trading Bill as Inadequate Reform

House Speaker Mike Johnson and Administration Committee Chair Bryan Steil have introduced the Stop Insider Trading Act, which aims to prohibit future stock purchases by members of Congress while allowing them to retain existing portfolios. The legislation, set for a committee markup this Wednesday, also extends restrictions to spouses and dependent children and mandates public notice before any stock sales.

Representatives Pramila Jayapal, Seth Magaziner, and Alexandria Ocasio-Cortez immediately denounced the move. The trio, who co-sponsor the bipartisan Restore Trust in Congress Act, argued that the GOP bill leaves the primary conflict of interest untouched. Under the Republican proposal, lawmakers could still influence legislation and investigations that directly impact the value of their personal assets.

"The American public deserves to know that members of Congress are making decisions in the public interest, not in the interest of their own pocketbooks," the Democrats stated. Their preferred alternative, the Restore Trust in Congress Act, requires full divestment within 180 days of taking office.

External ethics experts have echoed these concerns. Christina Harvey of Stand Up America dismissed the GOP proposal as a "ban in name only," while Kedric Payne of the Campaign Legal Center noted that allowing lawmakers to hold onto existing stocks fails to address the core public concern regarding official decision-making. Despite pressure from some rank-and-file Republicans to force a vote on a stricter ban, the GOP leadership is betting that their compromise bill can navigate the House, though its path through a narrow Senate majority remains uncertain.