'60 Minutes' report boosts Rep. Walz's insider trading billby Brett Neely, Minnesota Public Radio
Washington — After a report on "60 Minutes" this weekend about members of Congress trading stock based on information they learn from their jobs, support for a bill sponsored by Minnesota Democrat Rep. Tim Walz is growing.
Right now, insider trading laws don't apply to members of Congress. Walz's bill would change that and make members subject to criminal penalties if they break the law. Since the story aired Sunday night, Walz saiid the number of cosponsors on the bill has tripled to 18.
"It feels to me now like it's one of those moments in time where we can come together in a bipartisan manner and say this institution depends on us fixing it and providing transparency," Walz said. "There's a real reason to be optimistic that this thing will go through."
Since the report aired, Republican leaders in the House have said they're considering ways to make members of Congress's stock trades more transparent.