New York Rep. Elise Stefanik on Monday blasted House Speaker Nancy Pelosi after her husband bought up to $5 million in computer chip stocks ahead of Congress’ vote on the semiconductor industry.
During an interview on “America’s Newsroom,” Stefanik said that Pelosi and her family have amassed tens of millions of dollars during her time in Washington.
“I think this is one of the untold stories of Nancy Pelosi’s speakership and her time, frankly, in Congress,” she said. “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 comes after her husband Paul Pelosi purchased between $1 million and $5 million shares of semiconductor company Nvidia in late June. Several conservative news websites reached out to the House Speaker’s office for comment about her husband’s recent stock trades.
“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.
The disclosure raised questions about whether Paul knew of the legislation that contains billions of dollars in subsidies within the semiconductor industry, which the Senate could vote on as early as Tuesday.
Stefanik said Paul’s purchase “stinks to high heaven” as Americans are suffering from financial strain due to soaring inflation rates and skyrocketing gas prices.
“And as the American people are suffering, as they’re looking at their investments continuing to plummet, the fact that the Pelosis are profiting,” she 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.”
