Senate Blocks Stock Trading Ban and Voter ID Rider Ahead of Midterm Recess
The US Senate failed to advance the Stop Insider Trading Act on Wednesday, with the measure falling 53-47, seven votes short of the 60 needed to overcome a filibuster. The bill, which passed the House in July, would have banned members of Congress, their spouses, and dependent children from buying individual stocks. Democrats opposed the measure, arguing it allowed lawmakers to retain existing holdings and reinvest dividends, and objected to a bundled voter ID requirement they described as a 'poison pill.' The vote occurred five weeks before the November midterms, with the Senate set to recess for the campaign season. Republicans accused Democrats of prioritizing political messaging over reform, while Democrats argued the bill was designed to fail and ignored a bipartisan alternative advanced in a committee last year.