Austin Scott on Government Reform
Congressional Summary: Requires each Act of Congress to contain a concise and definite statement of the constitutional authority relied upon for the enactment of each portion of that Act. Declares that failure to comply with this requirement shall give rise to a point of order in either chamber of Congress.
Constitutional Authority for This Act- This Act is enacted pursuant to the power granted Congress under article I, section 8, clause 18, of the United States Constitution and the power granted to each House of Congress under article I, section 5, clause 2, of the United States Constitution.
Congressional Summary:Stop Trading on Congressional Knowledge Act (STOCK Act): Amends the Securities Exchange Act and the Commodity Exchange Act to prohibit purchase or sale of either securities or commodities by a person in possession of material nonpublic information regarding pending or prospective legislative action.
Bill explanation (ProCon.org, "Insider Trading by Congress", Feb. 3, 2012):
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Newly-elected Democrats taking office Jan.2017:
Newly-elected Republicans taking office Jan.2017:
Office 516 CHOB, Wash., DC 20515