President Barack Obama would be held to the same standards as Congress under legislation being considered by the Senate to prohibit lawmakers from trading stocks based on insider information, Minority Leader Mitch McConnell (R –KY) announced Tuesday morning.
McConnell made the announcement on the Senate floor just hours before the chamber was set to begin debating the Stop Trading on Congressional Knowledge (STOCK) Act. Obama called on Congress to pass the legislation in his State of the Union speech last week.
“I expect senators on both sides of the aisle will have a number of amendments to this legislation. But one thing that stands out is the fact that the president is calling on Congress to live up to a standard that he isn’t requiring of his own employees,” McConnell said.