Republicans on the House Administration Committee cleared a path for their proposal to curb congressional stock trading, advancing it Wednesday along party lines.
The bill could now get a floor vote in the coming weeks, with Majority Leader Steve Scalise, R-La., saying he would like to move it “soon.”
The measure would prohibit members of Congress, their spouses and dependent children from buying new individual stocks. It would require members who want to sell stocks they already own to publicly give notice at least seven days and no more than 14 days before doing so. It would also allow the House and Senate Ethics panels to impose fines of either $2,000 or 10 percent of the value of the transaction in the covered investment, whichever is greater, along with the net gain realized.
