Appearing Monday on the Fox News Channel’s “America’s Newsroom,” Rep. Elise Stefanik (R-NY), the House Republican Conference chairwoman, weighed in on House Speaker Nancy Pelosi’s husband Paul Pelosi’s recent purchase of shares in a semiconductor company as Congress considers legislation that could be a significant boost the industry.
She said the move “stinks to high heaven.”
Transcript is as follows:
HEMMER: There’s this CHIPS [ACT] that may pass soon–$52 billion on the tab. It would help big companies like Nvidia compete more, we’re told, with countries like China. It’s been held up in the House because Democrats tacked on a number of other issues that aren’t going to fly on the Senate side. Meanwhile, Paul Pelosi, the husband of Nancy Pelosi, has made a one to five million dollar bet that this is going to go through and made the bet on Nvidia, which is a big chip maker. It’s known around the world. Pelosi has said she also wants to get lawmakers out of the business of investing in stocks. This is what Paul Pelosi does for a living, but he could also have information as to whether the bill is going to fly in the House. How as you, a Republican, react to that?
STEFANIK: I think this is one of the untold stories of Nancy Pelosi’s speakership and her time, frankly, in Congress. The Pelosis, as a family, her husband, has profited by tens of millions of dollars during her time in Congressional leadership. And it’s not just the investment in domestic semiconductor chip manufacturing. This is what we’ve seen when Paul Pelosi has purchased stock options for big tech companies, making tens of millions of dollars as Nancy Pelosi slow walked potential legislation to rein in the power of big tech companies. This stinks to high heaven.
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