Nancy Pelosi's Husband Bets Big on Semiconductor Industry Ahead of Subsidy Vote
House Speaker Nancy Pelosi (D-Calif.) and her husband, Paul, came under scrutiny earlier this week over a stock buy placed by the Speaker's husband — between $1-5 million shares worth of U.S.-based computer chip manufacturer NVIDIA. (RELATED: Report: Indictment May Be Coming for Famous Republican)
Paul Pelosi's purchase took place late last month, ahead of discussions scheduled to start taking place in the Senate today over a $52 billion subsidy for the U.S. semiconductor industry, from which NVIDIA would naturally benefit. (RELATED: Pelosi's Husband Officially Charged With DUI)
The subsidy package hopes to decrease America's dependence on China for semiconductor manufacturing. While the United States leads in semiconductor design, 90% of chip-making occurs overseas. These days semiconductor manufacturing primarily happens in Taiwan and South Korea, although China's semiconductor industry is the fastest growing in the world.
As reported by Reuters, Senate Majority Leader Chuck Schumer (D-N.Y.) believes that:
“Without these incentives from Congress, the capital investment required for expanding production is not economically viable in the United States, given other global alternatives.”
Lawmakers plan to send the legislation to President Biden's desk ahead of the August recess.
At the same time, Republicans hope to capitalize on Pelosi's latest bout of prolific stock trade by drawing attention to the controversy between now and November. Appearing on Fox News yesterday, House Republican Conference Chair Elise Stefanik (R-N.Y.) addressed Paul Pelosi's trading history, telling Bill Hemmer that it “stinks to high heaven.”
WATCH:
House Pulls Together Appropriations Package
Elsewhere in our nation's capital, the House Appropriations Committee, which deals with funding federal agencies and their projects, released a number of statements from its subcommittee chairs yesterday about the FY 2023 appropriations package.
The package has a combined price tag of $405 billion. Publicly, congressional Democrats say they're building the necessary support to ensure the bills get past the proverbial finish line before the August recess. However, uncertainty lurks behind the scene, as many worry that there's not enough time to pass the bills and that they'll have little to show to voters as the midterms enter the homestretch. (RELATED: Republican Proposes Resolution to Let Biden Potentially Send Troops to Ukraine)
Staffers in Eight Democrat House Offices to Unionize
Two months ago, Democrats strong-armed legislation through the House chamber that permits staffers to unionize.
According to The Hill, “a total of 85 congressional workers filed petitions for representation with the Office of Congressional Workplace Rights, according to the Congressional Workers Union.”
The offices where staffers have filed to unionize all belong to extremely progressive Democrats: Reps. Cori Bush (D-Mo.), Jesús “Chuy” García (D-Ill.), Ro Khanna (D-Calif.), Andy Levin (D-Mich.), Ted Lieu (D-Calif.), Alexandria Ocasio-Cortez (D-N.Y.), Ilhan Omar (D-Minn.) and Melanie Stansbury (D-N.M.). (RELATED: Defund the Police Democrat's Vehicle Hit by Gunfire for the Second Time)
Although all congressional offices must abide by a certain set of universal rules, the salaries and staff composition are typically left up to individual members and their leadership staff.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
READ NEXT: Republicans Back Away From Bipartisan Boondoggle >>
Surely no one can be surprised by this. It’s what our elected officials do. How else can you explain how someone can get elected and by the time they “retire” from their government jobs they are millionaires?
They have been doing this for years and everybody knows about it, but all these years nothing has been done about it, so what do you think is going to be done now?
send them to jail!
Freeze ALL of their assets until such time as we can do a full FORENSIC INVESTIGATION. Seeing as how everything is do backed up because of her treason, that investigation may take place by 2075.
Pelosi is clearly above the law.
How many in Congress do same or worse??
Nancy PILosi and all her kind live life on the high side day in and day out. They always can play their game of life completely detached from we the people and everyone else in their predicament. Money, power and greed needs no approval, no emotional connections to mankind. It’s all in their game and pockets!
Standard operating procedure for Congress and government officials. Not to mention insider trading on Wall Street. The big buck traders have it made with all the inside info they need. The SEC is pretty much useless and seldom catches anyone cheating.