House Republicans are finally coalescing around a long-promised ban on stock trading by members of Congress. On Monday, they introduced the Stop Insider Trading Act, a leadership-backed bill from Rep. Bryan Steil (R-Wis.) that would ban members of Congress, their spouses, and their dependents from making new purchases of individual stocks. It would also require a seven-day public notification before making any stock sales.
However, the bill would leave another major ethical issue untouched. It would allow members to continue holding and profiting from stocks they already own, even in cases when those holdings create direct conflicts of interest with the committees they oversee or the legislation they are in charge of shaping.
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