Bill Owens on Government Reform
Democratic Representative (NY-23)
Effective with respect to pay periods beginning after the date of the regularly scheduled general election for Federal office held in November 2012, the rate of basic pay for each Member of Congress shall be reduced by 5%, rounded to the nearest multiple of $100.
This adjustment shall be in lieu of any adjustment which might otherwise take effect, in the rates of basic pay for Members of Congress.
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):
Congressional Summary:Fair Elections Now Act--Amends 1971 FECA with respect to:
Statement of support for corresponding Senate bill: (Sunlight Foundation) Now we bring you the Senate Campaign Disclosure Parity Act, a bill that should probably be the least controversial of all. S. 375 would simply require senators and Senate candidates to file their public campaign finance disclosure reports electronically with the Federal Election Commission, the way House candidates and presidential candidates have been filing for over a decade. A version of the bill has been introduced during every congress starting in 2003 (!) yet it has been blocked repeatedly, a victim of political football.
Sen. Jon Tester, D-Mont., has introduced the most recent version, which would ensure that paper Senate campaign finance reports are a thing of the past. But even with 50 bipartisan cosponsors, the bill faces an uphill battle. Minority Leader Mitch McConnell, R-Ky, has repeatedly prevented the bill from coming to the Senate floor. We won't be deterred--as long as McConnell continues to block the bill, we'll continue to highlight that his intransigence results in delayed disclosure of vital, public campaign finance information, not to mention wasting $500,000 in taxpayer money annually. Eventually, we'll win.
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Newly-elected Democrats taking office Jan.2017:
Newly-elected Republicans taking office Jan.2017: