The House passed a bill Thursday aimed at stopping lawmakers from using insider information for stock trades. But Senator Elizabeth Warren immediately criticized the measure, saying it 'won't solve the problem' because members of Congress will still be allowed to own and sell stocks.
What the bill does
The legislation targets the use of nonpublic information gained through official duties. It would require lawmakers to report trades more quickly and tighten rules around conflicts of interest. But it stops short of a full ban on stock ownership or trading by members of Congress and their families.
Warren's objection
Warren said the bill doesn't go far enough. 'It won't solve the problem,' she said, because lawmakers can still own and sell stocks. She argued that the loophole leaves the door open for conflicts of interest, even with tighter reporting rules. The bill, she said, fails to address the core issue of lawmakers profiting from their positions.
What happens next
The bill now heads to the Senate. Its fate there is uncertain. Similar proposals have stalled in the past, and the Senate has not yet scheduled a vote. The House's passage marks a step forward, but the legislation faces an uphill battle in the upper chamber.
