House Speaker Nancy Pelosi, D-Calif., is positioned to potentially personally benefit from President Biden’s $2 trillion spending bill – and here’s how she could do it.
Biden last week announced his grandiose spending bill, which reserves $174 billion as subsidies for electric vehicles, charging stations and similar policies.
Now, here’s where Pelosi comes into play.
Back in December, Pelosi’s husband, Paul Pelosi, invested between half a million and $1 million in the famous electric car company Tesla, financial disclosures show.
Due to the massive electric car subsidies proposed in Biden’s infrastructure plan, Tesla is poised to be a big winner from Biden’s plan should it go through.
And, due to her husband’s massive investment, Pelosi could personally, financially benefit as Tesla grows from the subsidies, as the Free Beacon reported Friday.
Congressional spouses are legally allowed to invest in firms that their lawmaker husbands and wives work to regulate. However, the non-lawmaker spouse cannot act on information given to them by their congressional consort.
Pelosi’s deputy chief of staff Drew Hammill told Fox News that the speaker did not have any involvement with the purchases nor “prior knowledge” of them.
“If you read the disclosure here, you will see that under the ‘Owner’ column each is marked SP for spouse,” said Hammill. “The speaker has no involvement or prior knowledge of these transactions.”
Torunn Sinclair, National Republican Congressional Committee national press secretary, called Pelosi’s potential profit “yet another example” of the speaker “using her power to tax the middle class and personally profit from it.”
Senate Republican Leader Mitch McConnell, R-Ky., vowed that Senate Republicans would fight the infrastructure plan “every step of the way.”
Biden’s infrastructure bill has come under fire from critics on both sides of the aisle.
McConnell pointed out that less than “6%” of the money in the infrastructure proposal actually goes to “roads and bridges.”
“It would spend more money just on electric cars than on America’s roads, bridges, ports, airports and waterways combined,” the Republican senator said.