STOCK Act passes House but fate still at issue

February 9, 2012
Pittsburgh Business Times

The House of Representatives voted 417-2 for a bill that would limit congressional members from trading stock based on nonpublic information they receive in the course of their service.

Most of Pennsylvania’s congressional delegation voted for the bill, called the Stop Trading on Congessional Knowledge (STOCK) Act of 2012.

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Voting yes were Rep. Tim Murphy, R-Upper St. Clair; Rep. Jason Altmire, D-McCandless; Rep.Mike Kelly, R-Butler; Rep. Mike Doyle, D-Pittsburgh; and Rep. Mark Critz, D-Johnstown. One of the 14 House members who didn’t cast a vote was Rep. William Shuster, R-Hollidaysburg.

The Senate passed a similar bill Jan. 31 on a 93-2 vote. The bill now goes to a conference committee before it can go to President Obama for his signature. The House and Senate bills differ and Politico said it wasn’t clear whether the two can be reconciled.

“The STOCK Act is an important piece of legislation that will help to restore America’s confidence in public officials,” said Altmire, one of the 284 cosponsors of the bill. “Western Pennsylvanians sent me to Washington to make their lives better and to look out for their interests, not my own.