The husband of House Speaker Nancy Pelosi, Paul Pelosi, has raised eyebrows for purchasing millions of dollars in computer chip stocks just weeks ahead of a Congressional vote to give subsidies to US tech manufacturers.
Pelosi is an avid stock trader, but the mid-June purchase of shares in Nvidia, a semiconductor company, has caught the attention of a think-tank that keeps an eye on the stock trading activity of those closely related to members of Congress.
“It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” said Craig Holman, a lobbyist for Public Citizen to the Daily Caller. “This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise.”
The Senate could convene as early as this week to vote on a bill that would allot $52 billion in subsidies for US-based manufacturers of computer chips. The shortage of chips from China during the COVID-19 pandemic has caused a resulting shortage of products that rely on the chips, such as cars, electronics, smart phones and more.
The bill is aimed at increasing domestic production of the chips and decreasing reliance on foreign supplies. The bill would offer tax breaks for manufacturing the chips in the US.
Paul Pelosi made headlines recently when he was arrested for drunk driving in May after he crashed into another driver and injured him. If found guilty, 82-year old Pelosi could face jail time.
ARTICLE: LAURA SPIVAK
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: NEW YORK POST
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