House passes bill that would ban members from buying stock
Legislators Approve Stock Trading Restrictions Alongside Voter Identification Mandate
Tyunews.com – On Wednesday, the U.S. House of Representatives approved legislation that would restrict members of Congress from purchasing individual stocks while simultaneously requiring voters to present photo identification before casting their ballots. The measure passed with a margin of 232-198, with thirteen Democratic representatives joining all Republican members in support.
Key Provisions of the Stop Insider Trading Act
Championed by House Administration Committee Chairman Bryan Steil of Wisconsin, the Stop Insider Trading Act targets new stock purchases by congressional members, their spouses, and dependent children. However, the legislation permits lawmakers to retain stocks they currently hold in their portfolios.
"This is the first congressional stock trading ban to receive a vote on the floor of the House," Steil stated during proceedings. "If you want to day trade, there is a place for that on Wall Street."
The bill also incorporates a voter identification requirement, mandating that citizens present valid physical photo identification when voting for federal positions. Those casting mail-in or absentee ballots may attach photocopies of their identification documents to their ballots. Voters who forget their identification can still submit provisional ballots.
Critical Perspectives from Both Parties
Administration Committee ranking Democrat Joe Morelle of New York criticized the legislation as inadequate. He argued that the bill fails to address the core issue since it permits members to continue both owning and trading stocks.
"They've added provisions that have absolutely nothing to do with stock trading and everything to do with their obsession, their obsession with the 2020 election," Morelle remarked regarding the voter ID component.
Representative Teresa Leger Fernandez, a Democrat from New Mexico and chair of the Democratic Women's Caucus, expressed similar concerns. She noted that the legislation does not truly prohibit stock trading since members can still acquire and sell stocks while utilizing information gathered during congressional sessions to generate profits.
"It doesn't ban stock trading because you could still acquire stocks, sell stocks, use information that you have that you garner here in Congress to make a profit. And stock trading involves purchase and sales, and it does not prohibit sales," she explained.
Executive Branch Exclusion Draws Criticism
Several Democrats opposed the measure partly because it excludes the executive branch from its restrictions. President Donald Trump's recent financial disclosure revealed that his investment advisers executed more than 21,000 trades on his behalf during the previous year, with numerous transactions involving companies subject to his administration's regulation or business.
"The biggest glaring absence is that the president and vice president can continue to stock trade," Leger Fernandez pointed out.
Republican Representative Chip Roy of Texas acknowledged that GOP leadership transformed the vote into a partisan exercise by linking voter identification to the stock trading ban. He agreed with Democratic concerns that the legislation should encompass all three branches of government.
"It should apply to everybody. That was my preference, and always had been," Roy stated. "We stuck on focusing on Congress because you know, get your own house in order, and then you know you can kind of start pointing fingers elsewhere, but I would like it to apply to everybody in the executive branch, judiciary branch, and here."
Voter ID Concerns and Political Implications
Additional Democratic opposition stems from the combination of the stock ban with voter identification requirements. This pairing occurs as President Trump continues urging Republicans in both chambers to approve the SAVE America Act, which Democrats contend would disenfranchise certain voters.
Leger Fernandez described the legislation as a "Trojan Horse" for the Save America Act.
Representative Alexandra Ocasio-Cortez of New York characterized the bill as a "bait-and-swap" maneuver, suggesting that the voter ID provision was inserted primarily for political purposes rather than addressing stock trading concerns.
Meanwhile, Representative Leger Fernandez, who wears a "Release the Files" badge, participated in an event hosted by the Democratic Women's Caucus ahead of the State of the Union address on Capitol Hill in Washington, DC, on Tuesday, February 24, 2026. The occasion provided an opportunity for survivors of financier Jeffrey Epstein's sex trafficking ring to attend alongside congressional leaders.