Weeks before a vote on industry subsidies, Nancy Pelosi’s husband purchases computer chip shares worth more than $1 million.
Just weeks before a probable vote in Congress that would provide a significant subsidy to the business, Paul Pelosi, the husband of House Speaker Nancy Pelosi, invested almost $1 million in shares in a computer chip manufacturer.
According to a disclosure form by Pelosi’s office, Mr. Pelosi purchased between $1 million and $5 million worth of shares in the semiconductor giant Nvidia. According to the filing, he executed 200 call options or 20,000 shares.
According to Reuters, the Senate might vote as soon as Tuesday on a plan that would provide billions of dollars in subsidies to the semiconductor sector.
To be more competitive with China, the measure may provide up to $52 billion in semiconductor subsidies and tax credits.
Before departing for their August break, Congress hopes to enact the measure and deliver it to President Biden.
The information is alarming, according to Craig Holman, a Capitol Hill lobbyist for the left-leaning think tank Public Citizen, who spoke to the Daily Caller News Foundation.
According to Holman, “it definitely increases the possibility that Paul Pelosi may have access to some insider legislative knowledge.” Because of this, there is a stock trading program that only tracks Paul’s trading activities, and its users follow suit.