THE DAILY WHIP: THURSDAY, FEBRUARY 9, 2012

Suspension (1 Bill)

1. House Amendment to S. 2038 [2] - STOCK Act (Sen. Lieberman - Judiciary/House Administration/Oversight and Government Reform /Financial Services/ Agriculture/Rules) This bill would clarify the current prohibitions against insider trading on non-public information that applies to lawmakers, officials and senior staff of the legislative, executive and judicial branches of government. It would impose new disclosure requirements under which lawmakers must publicly report any stock or securities transaction within 45 days of when the transaction occurs.  This requirement is intended to discourage stock trades being made based on inside knowledge gained through an individuals’ job.

   The Senate passed the measure on February 2, 2012 by a vote of 96 to 3.  The revised bill that the House is considering drops Senate-passed provisions that would require the registration and disclosure of activities by "political intelligence consultants” as well as provisions intended to fight undisclosed "self-dealing" by public officials.  The bill contains new provisions that bar lawmakers from participating in initial public stock offerings on a favored basis, and extends a prohibition on entering into negotiations regarding future employment without appropriate disclosure, to high-level executive and judicial branch employees.

   The bill is being considered under suspension of the Rules, which prohibits Members from offering any amendments and once again breaks a pledge made by the Republican Majority to the American people that Members would be allowed to offer amendments on the Floor.  An updated version of the bill was posted on the Rules Committee website yesterday morning, despite repeated promises of 72 hours notice before a vote on any legislation.   

Bill Text for S. 2038:
PDF Version [3]
Background for S. 2038:
[4]CRS Report - Prosecution of Public Corruption: An Abridged Overview of Amendments Under H.R. 2572 [5] and Title II of the STOCK Act

Postponed Vote (1 vote):

Democratic Motion to Instruct Conferees on H.R. 3630 [6] – Temporary Payroll Tax Cut Continuation Act of 2011 (Offered by Rep. Bishop (NY))