Once more, the husband of House Speaker Nancy Pelosi is receiving the worst type of media coverage.
According to sources, Paul Pelosi purchased 20,000 shares in a semiconductor company while a law that would offer large subsidies for their production is making its way through Congress and a Senate vote is anticipated in the near future.
The relocation, which was marked as occurring in June, is included in Nancy Pelosi’s financial statement from last Thursday.
The stock purchase was made by Paul Pelosi personally, according to the Daily Caller.
The disclosure form lists a price range of $1 million to $5 million for the purchase of Nvidia stock.
The document states that Paul Pelosi “exercised 200 call options (20,000 shares) expiring 6/17/22 at a strike price of $100.” According to a Yahoo story from October 2021, Nancy Pelosi herself doesn’t invest in equities.
One of the biggest semiconductor producers worldwide is Nvidia.
According to The Hill, the House passed the “America COMPETES Act,” a sizable piece of legislation intended to increase American competition with China.
A different version of the legislation, known as the “United States Innovation and Competition Act” or USICA, was approved by the Senate last year, according to The Hill.
Conference committees are working to resolve the differences between those legislation.
A more condensed version of the Senate’s proposed measure, which includes billions in federal subsidies and is intended to increase domestic semiconductor manufacture, is expected to be debated. According to Reuters, a Senate vote might occur as soon as Tuesday.
According to The Hill, Pelosi stated at her news conference on Thursday that she still prefers the larger strategy but did not completely rule out the smaller plan.
The idea aims to increase the American semiconductor industry’s competitiveness. Its supporters issue a warning about the economic and security concerns posed by Chinese rivals.
Nancy Pelosi has come under fire for her husband’s stock trading activity, with claims of insider trading being made in response to his investment success.
More on this story via The Western Journal:
Pelosi initially rebuffed calls to ban members of Congress from trading in individual stocks.
However, she eventually acquiesced to the idea. It’s unclear if she supports such a ban being applied to her own husband.