House Democrats went into the vote on the Stop Insider Trading Act last month groaning that it was all a big Republican set-up. Now they're fuming that the trap has been sprung. Why it matters: A well-funded Republican group is blanketing the airwaves lauding GOP lawmakers in key swing districts — including some with reputations for prolific stock trading — as champions on the issue. - "Corrupt congressmen treat the House floor like a trading floor. Thankfully, Congressman Rob Bresnahan voted to stop it," says one of the ads . - Issue advocacy group Choose Freedom Inc. has put a whopping $9 million into running the spots across nearly 20 congressional districts, according to ad tracking firm AdImpact. Catch up quick: The House voted…
What is the response from the Bresnahan campaign regarding Rep. Joe Morelle's criticisms?
The Bresnahan campaign stated that calling someone else "shameless" is a "masterclass in projection" because Morelle refused to vote for the bill, and suggested Morelle should put his name on common-sense legislation instead of criticizing others for taking action.
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Why did House Democrats oppose the Stop Insider Trading Act during the vote?
House Democrats expressed frustration because the bill included an unrelated provision requiring photo ID to vote in federal elections; ultimately, only 13 Democrats voted for the bill. Rep. Debbie Dingell also noted that the bill allows members to still own stock and does not include the administration.
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Which Republican lawmakers are being featured in ads by Choose Freedom Inc. as champions on the issue of stopping stock trading?
The group is running ads praising swing-district Representatives Mike Lawler (R-N.Y.), Monica De La Cruz (R-Texas), Mariannette Miller-Meeks (R-Iowa), Juan Ciscomani (R-Ariz.), Rob Wittman (R-Va.), Ryan Mackenzie (R-Pa.), Bryan Steil (R-Wis.), Scott Perry (R-Pa.), Derrick Van Orden (R-Wisc.), and Brad Finstad (R-Minn.), as well as Jay Obernolte (R-Calif.) and Brett Guthrie (R-Ky.).
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How much has the issue advocacy group Choose Freedom Inc. spent on advertising related to congressional stock trading?
According to ad tracking firm AdImpact, Choose Freedom Inc. has put $9 million into running advertisement spots across nearly 20 congressional districts.
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What specific provisions and exclusions are included in the Stop Insider Trading Act?
The bill applies only to the legislative branch and does not include the president or cabinet. It contains carveouts that allow members to hold onto and sell pre-owned stocks, and it allows for the purchase of pooled investment vehicles such as mutual funds and ETFs.
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What was the outcome of the House vote on the Stop Insider Trading Act in July?
The House voted 232 to 198 to pass the Stop Insider Trading Act, which would ban members of Congress and their families from purchasing individual stocks.
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