(Fox Business) Paul Pelosi, House Speaker 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. He 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.
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.