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article imagePlan for Internet financial disclosures quietly repealed

By Owen Weldon     Apr 14, 2013 in Politics
The United States Congress has decided on Friday to repeal a plan that would require congressional staff, as well as employees in the executive branch, to make their financial disclosures available to the Internet.
The measure was aimed at amending the STOCK ACT, and neither chamber debated it, according to Yahoo. The law was meant to prevent officials such as lawmakers and their staff from being able to profit from stock trades, using their insider knowledge. If the law was not repealed, than the disclosures were going to start on Monday.
According to NPR, The Sunlight Foundation, which advocates for a more open government, said that Congress failed and that they act broadly. The organization noted that the president and the vice president, as well as members of Congress still have to make their financial closures public. However, they will not have to release such disclosures on the Internet.
According to CNN, The Sunlight Foundation said that the exemption of those in federal agencies and Capitol offices could result in people trusting the government less, and there could end up being more corruption.
President Obama will receive the bill, and he will decide whether or not to sign it.
More about Congress, repeals, Internet, Financial, Disclosures
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