Paul Pelosi, Speaker of the House Nancy Pelosi‘s husband, made a stock purchase of over $1 million in a computer chip company just weeks before a potential vote in Congress which would give a massive subsidy to the industry.
Mr. Pelosi made a purchase of between $1 million and $5 million shares of Nvidia, which is a semiconductor company, according to a Disclosure filing made by Pelosi’s office. They exercised 200 call options, or 20,000 shares, the Disclosure states.
Reuters reported that the Senate could vote on a bill that contains billions of dollars in subsidies within the semiconductor industry as early as Tuesday.
The bill could send as much as $52 billion in chip subsidies as well as tax credits in order to increase competitiveness with China.
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Congress is aiming to pass the bill and send it to President Biden’s desk before leaving for their August recess.
Craig Holman, who is a Capitol Hill lobbyist for Public Citizen, a left-leaning think tank, told the Daily Caller News Foundation that the Disclosure is concerning.
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“It certainly raises the specter that Paul Pelosi could have access to some Insider legislative information,” Holman said. “This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then his followers do likewise.”
The Disclosure also shows that Mr. Pelosi sold shares of Apple and Visa.
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FOX Business reached out to Pelosi’s office.