The US Senate on Wednesday blocked legislation that would impose new restrictions on stock trading by members of Congress after Democrats withheld the votes needed to advance it, arguing that the measure did not go far enough to create a complete ban.
The measure, passed by the House of Representatives in July, was stopped by a 53-47 vote that prevented Republicans from opening debate on the partisan bill.
The legislation needed 60 votes to clear the Senate’s procedural hurdle.
Voters have expressed anger for years over the thousands of stock trades made by lawmakers, many of which critics say are inappropriate because of Congress’s privileged access to information.
Members of Congress help shape legislation, sometimes in closed-door proceedings, while also trading stocks and bonds whose values could be influenced by decisions made in the House and Senate.
The bill also included a Republican-backed provision tightening the photo-identification requirements for voting in US elections. Democrats called the language a “poison pill,” arguing that it could make it harder for eligible citizens to vote in federal elections.
Senate Majority Leader John Thune said at a news conference Tuesday that the bill’s provisions “strike at the very heart of issues that the American people care deeply about.”
The “Stop Insider Trading Act” would bar members of Congress, their spouses and dependent children from purchasing shares in publicly traded companies.
Democrats objected, however, to provisions allowing lawmakers to retain stocks they already own, use dividends to purchase additional shares and permit spouses or children to trade on their behalf.
With several Republican campaigns for the House and Senate appearing vulnerable, party leaders arranged the vote to show they were responding to voters’ concerns.
The effort comes as many Americans are frustrated by high energy prices linked to the Iran war and elevated interest rates that have made borrowing more difficult.
Senate Democratic Leader Chuck Schumer led the opposition to the bill.
“Another desperate Republican attempt to pretend they’re fighting corruption when what they really want is to score political points because they know they’re drowning in their campaigns,” Schumer told reporters.
Many Democrats have backed a complete ban on stock trading by members of Congress. Some also support extending such restrictions to the president, other executive branch officials and the US Supreme Court.
A December study by Common Cause found that lawmakers from both parties carried out 13,324 trades last year, with a combined value of $635.6 million.
Meanwhile, President Trump made 21,000 securities trades in 2025, according to media reports in July, increasing the value of his accounts to more than $850 million.
The Republican president has repeatedly pointed to record stock prices as evidence that his policies are working, although many Americans struggling with high living costs do not invest in the stock market.
The dispute over how far restrictions on congressional stock trading should go comes during campaigns ahead of the November 3 midterm elections, which will determine whether Republicans or Democrats control each chamber of Congress next year.
Republicans currently hold narrow majorities in both chambers.
