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Reid said at least one senator had threatened to force three time-intensive votes that could consume weeks of the upper chambers time before the Senate version would be sent to a conference committee. Instead of taking three votes, Reid suggested the Senate could cast a single vote to agree to adopt the House-passed version of the bill.

It certainly would have been my preference to work out these differences between the two houses through a conference committee, and I know thats the preference of the Republican leader, he said. Thats the usual practice. But weve been advised that there would be objection to going to conference by consent.

I tried it and tried, but we cant break through that. We need to address this issue more quickly. Because otherwise we dont address it at all.

The STOCK Act, which passed both chambers earlier this year after weeks of wrangling, would make clear that it is illegal for members of Congress and their staff to make investments and trades based on non-public information and tighten reporting requirements.

House Democrats and senators in both parties had pushed to establish a conference committee to settle differences between the two bills. In particular, they were keen to try to restore two measures that were added to the bill as amendments by the Senate but trimmed by House Majority Leader Eric CantorEric CantorSpecial interests hide behind vets on Independence Day What to watch for in Comey’s testimony Trump nominates two new DOD officials MORE (R-Va.) before it was brought up on the House floor.

One measure, originally offered by Senate Judiciary Committee Chairman Patrick LeahyPatrick LeahySenate committee ignores Trump, House budgets in favor of 2017 funding levels Live coverage: Trump's FBI nominee questioned by senators AT&T, senators spar over customers' right to sue MORE (D-Vt.), would have made it easier for prosecutors to pursue public corruption cases. And a second one proposed by Sen. Chuck GrassleyChuck GrassleyOvernight Cybersecurity: Kushner says no collusion, improper contacts with Russia | House poised to vote on Russia sanctions | U.S., Japan to beef up cyber cooperation Mattis rips Pentagon officials for M wasted on Afghanistan camouflage Feinstein calls for Sessions to appear in front of Senate Judiciary Committee MORE (R-Iowa) would have required political intelligence firms, which seek out private information to sell to investors, to register in a fashion similar to lobbyists.

The latter provison proved particularly contentious in the House, as the original sponsors of the legislation, Reps. Louise Slaughter (D-N.Y.), and Tim Walz (D-Minn.) took Cantor to task for trimming it. Even Grassley engaged in some intra-party sniping, saying Cantors changes would fulfill Wall Streets wishes.

Cantor defended the move, arguing that the bill produced by the Senate included some problematic and overbroad provisions.

Leahy and Grassley sent a letter to Reid and Senate Republican Leader Mitch McConnellMitch McConnellMcCain returning to Senate in time for health vote Senate Dems launch talkathon ahead of ObamaCare repeal vote Overnight Healthcare: Trump pressures GOP ahead of vote | McConnell urges Senate to start debate | Cornyn floats conference on House, Senate bills | Thune sees progress on Medicaid MORE (Ky.) on Monday, requesting a conference committee on the bill, or at least the opportunity to re-introduce their amendments as the Senate considers the House bill.