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Stock Act Sold Short

(Mr. COHEN asked and was given permission to address the House for 1 minute.)

Rep. Steve Cohen

legislator photo

Mr. Speaker, what the public saw today in the House of Representatives was a STOCK Act sold short. Unfortunately, what could have been an outstanding bill was changed by the Republican leadership by taking the two most important aspects put in the Senate bill out. One was a public corruption provision that would have allowed prosecutors to prosecute, from the courthouse to the Capitol, public corruption. This was something Senator Leahy had, and in the House it was Representative Sensenbrenner, a Republican, passed unanimously by the Judiciary Committee. But for some reason unbeknownst to me, it was stripped by the leadership of the Republican side out of the bill. Democrats didn't have an opportunity to participate in the drafting of the bill, and what was the work of Louise Slaughter and Tim Walz was hijacked from them.

Another important provision was the political intelligence provision. It was taken out by K Street lobbyists working with the leadership--late. That should not have been taken out.

The two best parts of the STOCK Act were sold short, and the American public should have had better today. We passed something, but not what we should have done.