The Senate on Wednesday failed to advance a Republican-backed bill that would restrict stock trading by members of Congress and add a federal photo identification requirement for voting. The procedural vote was 53-47, seven votes short of the 60 needed to move forward.
All Republicans voted to advance the Stop Insider Trading Act, while Democrats and two independents voted against it, according to the Daily Wire and the Guardian. The House passed the measure in July, 232-198, the Daily Wire reported. The bill was sponsored in the House by Rep. Bryan Steil and led in the Senate by Sen. Pete Ricketts, the outlet said.
Democrats said the trading provisions did not go far enough and objected to the voter ID provision. The Guardian reported that Democrats said the bill would allow lawmakers to retain their investment portfolios. The measure would also apply stock-purchase restrictions to lawmakers’ families, according to Democracy Docket.