Earlier this month, the husband of House Speaker Nancy Pelosi purchased nearly $2.2 million worth of Tesla stock.
Join Our Telegram Chanel Here: Donald Trump News
The latest disclosure of congressional financial information shows that Paul Pelosi has made tens of millions of dollars trading stocks through the years, while his wife has remained one of the most powerful politicians in this country throughout that time.
“Pelosi’s financial disclosure indicates that her husband purchased 2,500 shares of Tesla stock on March 17 — then worth nearly $2.2 million — by exercising call options at a strike price of $500 per share. The options were set to expire the next day, according to the disclosure. Tesla stock traded near $1,000 per share on March 23,” according to Business Insider.
“Tesla, which manufactures electric vehicles and solar panels, spends hundreds of thousands of dollars each year to lobby the federal government, according to lobbying disclosures compiled by nonpartisan research organization OpenSecrets. Tesla’s CEO is Elon Musk, the wealthiest person on Earth, according to the Bloomberg Billionaire Index,” explained the report.
Missouri Republican Sen. Josh Hawley announced in January that he would introduce legislation to bar insider trading in Congress.
Congressmen and their spouses would be banned from holding or trading individual stocks. Those members who are found to be in violation of the bill, the Banning Insider Trading in Congress Act, will have to return their profits.
Hawley stated at the time, “Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating.
Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country. Here’s something we can do: ban all members of Congress from trading stocks and force those who do to pay their proceeds back to the American people.
It’s time to stop turning a blind eye to Washington profiteering.”
Hawley’s Act will:
–Prohibit Members of Congress and their spouses from holding, acquiring, or selling stocks or equivalent economic interests during their tenure in elected office. Any holdings in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds are exempt from the prohibition.
–Give Members of Congress and their spouses six months, upon assuming office, to divest any prohibited holdings or place those holdings in a blind trust for the remainder of their tenure in office.
–Ensure Members or their spouses forfeit any investment profits to the American people via the U.S. Treasury if they are found to be in violation if the Act. Members who violate the requirements will also lose the ability to deduct the losses of those investments on their income taxes. The ethics committees of Congress may levy additional fines and will publicize violations.
–Require that after two years of the Act’s implementation, the Government Accountability Office (GAO) will conduct an audit of Members’ compliance with the Act.
Senator Jon Ossoff, a Democrat from Georgia, plans to bolster congressional ethics with legislation that will bar lawmakers from trading in stocks after Pelosi and her husband have raked in millions from Wall Street over the years.
Pelosi has specifically defended stock trades conducted by members of Congress as a way to practice capitalism. This is ironic since members of her own party have vehemently opposed capitalism while pushing socialist ideals.
Pelosi reportedly tried to kill the bill, according to the New York Post.
Nancy Pelosi is scrambling to quash bipartisan efforts to ban stock trading by Congressional lawmakers — even as she and her husband have raked in as much as $30 million from bets on the Big Tech firms Pelosi is responsible for regulating.
Late last month, the House Speaker disclosed that the Pelosis scooped up millions in bullish call options for stocks including Google, Salesforce, Micron Technology, and Roblox. At the same, some insiders say she has slow-walked efforts to rein in Big Tech.
Days later, Pelosi brushed off worries over stock picking by lawmakers, claiming it was part of the “free-market economy” — comments that made Democratic insiders “blood boil,” people close to the speaker told The Post.
Pelosi might prefer retirement over giving up her millions if the legislation to bar lawmakers from trading stocks passes.
The news comes as House Republicans conducted a poll to determine the views of battleground voters and found that 75 percent believed Democrats were ‘out of touch’ and ‘condescending’.
A further 67 percent said Democrats were out of control in their spending in Congress.
In a new poll conducted by the National Republican Congressional Committee, voters in 77 swing districts were surveyed, which president Joe Biden won by an average of 5.5 points.
GOP candidates in these districts now lead by 4 points and have improved by 7 points since February 2021, according to the NRCC.
Meanwhile, Biden’s numbers are continuing to slide.
‘The NRCC’s latest battleground survey confirms that Joe Biden and Democrats face an increasingly challenging political environment,’ the NRCC said in a memo. ‘Battleground voters continue to hold Democrats responsible for the negative impact that record-high inflation, soaring crime, and the crisis along our southern border are having on their lives.’
In these key districts, Biden’s approval rating is at 40 percent, while 55 percent disapprove of him.
The enthusiasm gap is also large – with 45 percent stating that they disapprove, but only 17 percent saying that they approve.
Join Our Telegram Chanel Here: Donald Trump News
Democrat chances of keeping their majority in the House seem to be on the decline due to the state of the economy.
A total of 46 percent of battleground voters said their main concern was an economic issue, including 26 percent that it was inflation and food prices and 15 percent that it was jobs and the economy.
As reported by the NRCC, Republicans held a 24-point lead among Americans who said they are concerned about rising costs of living.
Republicans led Democrats by 20 points when it came to Americans most concerned about jobs and the economy.