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Rep. Elise Stefanik, R-N.Y., said on Monday that House Speaker Nancy Pelosi and her family have amassed tens of millions of dollars during her time in Washington amid her husband’s controversial computer chip stock trades.
Stefanik’s comments come after Pelosi defended her husband Paul’s recent purchase of stock in a semiconductor company as Congress is set to vote on a subsidy for the industry.
“I think this is one of the untold stories of Nancy Pelosi’s speakership and her time, frankly, in Congress,” Stefanik told “America’s Newsroom.”
“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.”
FOX Business reached out to Pelosi’s office for comment about her husband’s recent stock trades, particularly inquiring about Paul Pelosi’s million-dollar purchase of stock in a semiconductor company as Congress is slated to vote on a $52 billion subsidy to the industry as part of a bill to increase U.S. manufacturing of computer chips to make the country less reliant and more competitive with China.
“The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions,” Nancy Pelosi’s spokesman, Drew Hammill, said in a statement to FOX Business.
Regarding proposals to ban trading by members of Congress, Hammill said, “there are at least three proposals introduced in the House in this regard and the Speaker has asked the Committee on House Administration to review these proposals,” adding that FOX Business “should check with the committee on their latest.”
Stefanik said Paul Pelosi’s purchase “stinks to high heaven” as Americans are suffering with inflation.
“And as the American people are suffering, as they’re looking at their investments continuing to plummet, the fact that the Pelosis are profiting,” Stefanik said.
“It just doesn’t smell right. And frankly, it is one of the commitments of Republicans in a majority to make sure that we have the correct rules in place, to make sure that there’s no malfeasance, and to make sure that members of Congress and their family members, particularly their spouses, are not able to profit at all over these types of investing.”
Fox News’ Hillary Vaughn and Danielle Wallace contributed to this report.