Lawmakers in the House are expected to vote on a jobs act Tuesday. Part of the legislation would allow the public to make investments in start-up companies and small businesses. These companies could raise money online or through social networks. The bill would lift SEC regulations that restrict soliciting investors.
The Senate passed a bill Thursday to explicitly ban insider trading by members of Congress and the executive branch, and that means the Stop Trading on Congressional Knowledge Act is headed to the president's desk.
But this STOCK Act is quite a bit weaker than earlier versions.
The STOCK Act has been on a glide path ever since an explosive 60 Minutes story last fall highlighted the issue of members of Congress apparently profiting on nonpublic information.
There was a bipartisan spirit on Capitol Hill today. The U.S. Senate voted to approve two major bills and a number of judges. One of those bills was the JOBS Act. The bill seeks to streamline regulations and make it easier for smaller companies to raise money and go public. The idea being that it will encourage job growth. The bill passed by an overwhelming majority.
But as NPR's Sonari Glinton reports, bipartisanship isn't always pretty.