Neither party wants a Congressional stock trading ban. Trading on insider information is the main reason they want to be there!
... A second bill, known as the Stop Insider Trading Act, which also includes a controversial voter-identification provision, was defeated on a party-line, 53-47 vote. Both bills needed 60 votes to overcome the Senate filibuster.
... the congressional stock trading bill, passed the House in July on a 232-198 vote, and would prohibit sitting members of Congress from buying individual stocks. But it would not force members to divest their existing portfolios, a sticking point for some Democrats who have advocated a more stringent trading ban.
Republicans also tacked on a controversial voter identification provision to the measure, which Democrats largely oppose.
Schumer similarly criticized the stock trading proposal on Tuesday, calling it a “theatrical farce” and the voter ID provision a “poison pill.”
And Sen. Tim Kaine, D-Va., said the Republican proposal was a half measure.
“It’s obviously a sign that they don’t take seriously the issue of insider trading. If you wanted to get a stock ban done, you would put a stock ban on the floor,” Kaine said on Wednesday. ...
