Owens applauds STOCK Act passage, hopes for stronger bill

The House of Representatives passed a bill today to ban insider trading among members of Congress, but even some of the 417 representatives who voted for it believe it was watered down and they hope improvements are in the offing.

That includes Rep. Bill Owens, D-Plattsburgh.

“House passage of this bill is a step in the right direction, although I am concerned that House leadership removed some important provisions through this House amendment to the Senate bill,” Mr. Owens said in a news release from his office. “It is my hope that, as the Senate and House bills are reconciled, we see a stronger version of the STOCK Act signed into law than what passed the House today.”

The Republican leadership in the House stripped out a provision that would have required those involved in "political intelligence" to register as lobbyists. Political intelligence operatives are outside individuals who go to the Hill to gather information that is then used to make investments. But the House majority signaled concerns that it was too broadly written, and could catch up in its net even journalists.