A bipartisan bill on insider trading that had been steamrolling through Congress has ground to a halt.
The Senate and House last month overwhelmingly approved different versions of the Stop Trading on Congressional Knowledge (STOCK) Act. Lawmakers from both sides of the aisle predicted some version of the bill would reach President Obama’s desk swiftly.
But what had been a legislative locomotive is now attracting something quite common in an election year: finger-pointing.
Democrats in the House and a senior Senate Republican want provisions on political intelligence added to the bill. House Republican leaders, who scrapped that part of the legislation, say it’s up to Senate Majority Leader Harry Reid (D-Nev.) to make a decision of whether to go to conference or pass the House-passed version. Reid, meanwhile, isn’t saying much….
….One thing is clear: The ball is in Reid’s court, and has been for a while.
On March 1, Craig Holman, government-affairs lobbyist for Public Citizen, said, “Everyone is waiting for Reid to make a decision.”
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