“We are going to take up the Senate bill … and we intend to strengthen that bill, and do so in a way that we can get the bill to the president,” he said.
He added that the House version of the bill is actually a weaker version.
But Democrats contended that the original bill banning insider trading authored by Reps. Louise Slaughter (D-N.Y.) and Tim Walz (D-Minn.) is the proper course for the House. They also cautioned against a slew of further amendments that could prove unpalatable to the Senate, or water down the original bill.
“We sit on the edge of making this work,” Walz said. “Don’t [propose] something that can’t pass the Senate.”
Slaughter added: “I’m concerend that they might dilute it in some way.”
Even as the Senate was advancing toward passage Thursday night, House Democrats were gathering signatures for a discharge petition that would force their version of the bill to the floor for a vote. As of Friday, 169 of the 218 required signatures had been gathered.