Representative Louise Slaughter, a New York Democrat who was the initial sponsor of the legislation, told reporters she didn't intend to micromanage the financial transactions of lawmakers.

Slaughter accused House Republican leaders of including the IPO provision "to cause grief" to Pelosi, whose husband's purchase of stock in Visa Inc. during a 2008 initial public offering was highlighted by "60 Minutes."

The House bill also would extend to senior executive branch officials, federal judges and senior judicial employees an existing rule requiring disclosure when they are in negotiations about a possible new job.

Cantor's version leaves out language by Senate Judiciary Committee Chairman Patrick Leahy, a Vermont Democrat, that would have tightened rules on public corruption while stiffening fines.

Dropping that language from the House bill is a missed opportunity "to enact serious anti-corruption legislation," Leahy said in an e-mailed statement.

The House Judiciary Committee had adopted language similar to Leahy's. It was designed to overturn a 2010 Supreme Court decision -- in the case of former Enron Corp. executive Jeffrey Skilling -- that made it harder for the Justice Department to prosecute public officials for depriving citizens of their "honest services."

 

First « 1 2 3 » Next