House Administration markup aims to curb members’ stock trades, citing gaps in STOCK Act

An unidentified member of the House Administration Committee told the panel at the start of a markup that no member of Congress "regardless of party or senior seniority, should be profiting off of insider information." The speaker framed the measure as a bid to restore public trust in Congress and said the committee is "leading the charge."

The speaker cited the STOCK Act of 2012, saying it "prohibits public officials from using non public information for their own financial benefit" but added that experience since 2012 shows "more needs to be done." The markup will consider a bill described as the product of "months of work" with colleagues and supporters off the committee, and the sponsor urged the committee to move the measure toward a House-floor vote if it clears committee.

The opening remarks acknowledged recent social-media attention documenting congressional stock trades and cautioned that some reporting has been "sensationalized and outright untrue," while also saying there are "documented instances that raise very real red flags." The speaker listed members who contributed to the bill’s drafting outside the committee, naming Chip Roy, Ana Paulina Luna, Tim Burchett, Michael Cloud and Brian Fitzpatrick.

The sponsor presented two central principles the bill is intended to protect: that members may not profit from insider information and that the measure should not bar individuals with successful private-sector backgrounds from serving in Congress. Anticipating criticism, the speaker said some will argue the bill is either "too hot" or "too cold" and warned against letting perfection be "the enemy of the good."

The speaker also cautioned members that amendments, attempts to refer the measure to other committees, or efforts to "pull apart the coalition" could derail enactment. "Some amendments may be offered, which would have the effect of derailing the progress that I believe we can make," the speaker said, urging colleagues to keep the focus on passing a workable reform.

The committee did not record a formal vote during these remarks; the sponsor said the bill would move to the House floor "if it passes this committee today." The markup proceeded after opening remarks; the sponsor yielded back at the end of the statement.

Next steps: the bill will be considered by the committee during the markup and could be reported to the full House for a floor vote if committee members approve it.