WASHINGTON, D.C. – U.S. Congressman Jason Altmire (PA-04) today voted in favor of the Stop Trading on Congressional Knowledge (STOCK) Act of 2012. The STOCK Act is a bipartisan, bicameral piece of legislation that prohibits Members of Congress from using any nonpublic information obtained from serving in their official capacity for personal financial gain. The U.S. Senate passed the bill by a vote of 96 to 3. The companion bill introduced in the U.S. House of Representatives has 284 co-sponsors, including Congressman Altmire.
"The STOCK Act is an important piece of legislation that will help to restore American's confidence in public officials," Congressman Altmire said. "Western Pennsylvanians sent me to Washington to make their lives better and to look out for their interests, not my own. After the collapse of the financial markets, Congress worked very hard to put protections in place for consumers who lost their retirements and life's savings. This bill goes a step further by ensuring that Members of Congress invest their money the same way as families across the country do, with the same information. I am proud to support this legislation and look forward to more opportunities to work in such a bipartisan way."
The modified STOCK Act passed the U.S. House of Representatives by a vote of 417 to 2. The bill now heads to a conference committee to work out the differences between the House-passed bill and the Senate-passed bill. Once an agreement is reached, both chambers will vote on a final bill.
