STOCK Act Passes in Senate, Despite Accusations of Hypocrisy Against Gillibrand
State Senator Kristen Gillibrand (D-NY) said that passing a bill that would outlaw congressional insider trading is a crucial move to regain the public's confidence in the government. The Stop Trading on Congressional Knowledge Act sailed through a Senate vote earlier today, with a vote of 96-3. ![]()
"I believe in the power of transparency," Gillibrand said. "When we open up our government and hold our elected officials accountable, we can get to the real business at hand."
Though the legislation had widespread support on both sides of the aisle, the STOCK act was criticized by House Majority Leader Eric Cantor (R-Va) and his GOP colleagues. Cantor has said he wanted to see the legislation expanded to include mandatory disclosure of land deals (instead of just stock trades), and extend the bill's reach to members of the executive branch. But Gillibrand said that the bill is directed towards lawmakers in Congress, as well as their staffs and families.
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