Democratic Leader Nancy Pelosi released the following statement today after the Senate voted 96 to 3 to approve the House version of the STOCK Act, which addresses insider trading by Members of Congress and thousands of executive branch employees. The bill previously passed the House by a vote of 417 to 2, and now heads to President Obama's desk for his signature into law:
"Passage of the STOCK Act is a direct result of the hard work, commitment, and leadership of Congresswoman Louise Slaughter and Congressman Tim Walz. They shined a light on a gaping hole in our ethics laws and helped close it once and for all. This reform would not have happened without their persistence and perseverance, and without the critical support of House Democrats.
"Today, the Senate took a critical step forward for transparency and accountability in the United States Congress and throughout the federal government. By passing the STOCK Act and sending it to the President's desk, we strengthened the forces of reform in our political system. We began restoring trust between public servants and those we represent.
"Despite this victory, we know more must be done to change the ways of Washington. House Republicans had the opportunity to take up the original, stronger, bipartisan Senate proposal, but refused to bring it up for a vote. Now, we must work to strengthen this legislation and uphold the confidence of the American people."