Paul Pelosi, House Speaker Nancy PelosiHer husband, made a stock purchase of more than $ 1 million in a computer chip company just weeks before a potential congressional vote that would provide a substantial subsidy to the industry.
Mr. Pelosi bought between $ 1 million and $ 5 million shares in Nvidia, a semiconductor company, according to a disclosure filing made by Pelosi’s office. He used 200 calling options, or 20,000 parts, the disclosure said.
Reuters reported that the Senate could vote on a bill that would include billions of dollars in subsidies within the semiconductor industry on Tuesday.
The bill would send $ 52 billion in chip subsidies as well as tax breaks to increase competition in China.
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Congress intends to pass the bill and send it to President Biden’s table before leaving for their recess in August.
Craig Holman, who is a Capitol Hill lobbyist for Public Citizen, a left-leaning think tank, told the Daily Caller News Foundation that the disclosure was relevant.
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“It certainly raises the specter that Paul Pelosi may have access to some legislative information on the inside,” Holman said. “This is why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do the same.”
The disclosure also shows that Mr. Pelosi sold shares in Apple and Visa.
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FOX Business reached out to Pelosi’s office.