The bill she drafted with Representative Tim Walz, Democrat of Minnesota, would prohibit lawmakers from trading on knowledge gained from their status; prevent them from sharing that information; and establish new requirements for reporting transactions of $1,000 or more within 90 days.
The Dec. 6 hearing in the House was scheduled by Representative Spencer Bachus, the Alabama Republican who chairs the committee and was one of the lawmakers who came under scrutiny from “60 Minutes,” though he challenged any suggestion that he traded improperly.
In the Senate, the Homeland Security and Governmental Affairs Committee is set to convene a hearing Thursday on new bills very similar to Ms. Slaughter’s “Stop Trading on Congressional Knowledge” or Stock Act.
Senator Scott P. Brown, the Massachusetts Republican who faces a difficult re-election bid, has introduced one; Senator Kirsten Gillibrand, the New York Democrat who is also up next year, is taking the lead on a competing bill that would change Congressional and Senate rules to ban insider trading.
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