On the recordMarch 20, 2012
as the Senate is aware, there are differences between the Senate and the House work product on the STOCK Act. This legislation limits insider trading by Members of Congress. It certainly would have been my preference to work out these differences between the two Houses through a conference committee. I know that is the preference of the Republican leader. That is the usual practice. But we have been advised there would be objection to going to conference by consent. I have tried it and tried it and we cannot break through that. That means it would take filing and adopting three separate cloture motions over the course of weeks to get to conference; that is, if we can be successful on the first two. So we need to address this issue more quickly because otherwise we do not address it at all, and we need to address it. As a consequence, I am going to file cloture in the motion to concur with the House bill on the STOCK Act. It is my hope we can resolve this matter expeditiously, and I hope we can thereby make clear Congress's intent to prohibit insider trading by Members of Congress. I now ask the Chair to lay before the Senate a message from the House with respect to S. 2038. The PRESIDING OFFICER. The Chair lays before the Senate the following message from the House, which the clerk will report. The bill clerk read as follows: Resolved, that the bill from the Senate (S.…
