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Senate clears way for insider-trading ban in effort to regain some public trust for Congress
WASHINGTON (AP) ' The Senate is working on a fast track to pass a bill that would ban insider trading by members of Congress. Lawmakers say the bill is needed to help restore the public's approval rating of Congress, now below 20 percent.
Senators are expected to introduce amendments Tuesday, and the bill could be ready for passage later this week.
In a Congress that has been heavily partisan since it convened a year ago, this bill saw an unusual display of bipartisanship. Senators voted 93-2 Monday on a motion that allows the Senate to proceed with the legislation.
The bill would make it clear that members of Congress are subject to insider trading laws, and require that any new transactions be posted online within 30 days.