The Senate Homeland Security and Governmental Affairs Committee approved compromise legislation Wednesday to ban lawmakers from trading stock.
The issue has dogged lawmakers for years, and even though Chair Gary Peters (D-Mich.) has been trumpeting a bipartisan deal, lingering concerns made for a contentious markup.
The bill would ban lawmakers, the president and the vice president from owning stock and certain other investments. They would have to divest starting in 2027.
Sponsors were hoping for unanimous passage, but four Republicans — Rand Paul of Kentucky, Ron Johnson of Wisconsin, James Lankford of Oklahoma and Mitt Romney of Utah — ended up voting no. Romney, who is retiring, helped lead the opposition.