A vote to ban congressional lawmakers from trading stocks was stalled indefinitely in the lower chamber after House Speaker Nancy Pelosi (D-CA) directed her to craft the legislation in February. However, House Majority Leader Steny Hoyer indicated that the bill would not be voted on before the midterms.
The Virginia Democrat then called for a change of House leadership within her own party while accusing them of sabotaging the legislation so it would not pass
- The package released earlier this week was designed to fail. It was written to create confusion surrounding reform efforts and complicate a straightforward reform priority.
- Pelosi shrugged off Spanberger's criticisms, saying her ideas were already included in Lofgren's legislation.
Pelosi, along with her husband Paul, are among the highest earners in congress from stock trading
- The bipartisan STOCK Act (Stop Trading on Congressional Knowledge) banned insider trading by members of Congress and was signed into law by President Barack Obama on April 4, 2012
- Passed by both parties and received overwhelming support from both parties
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