Paul Pelosi, husband to House Speaker Nancy Pelosi (D-CA), sold up to $5 million in semiconductor shares that he had recently purchased before the Senate voted on a major computer chip subsidy bill on Wednesday.
One day after the disclosure report was filed, the Senate, in a 64-33 vote,the $280 billion CHIPS Act, part of which gives a $52 billion subsidy to the semiconductor industry.
The House is expected to pass the bill next week before it goes to President Joe Biden’s desk to be signed into law, Breitbart News reported. “Mr. Pelosi bought options to buy stock in this company more than a year ago and exercised them on June 17, 2022,” a spokesman from the Speaker’s office said in“As always, he does not discuss these matters with the Speaker until trades have been made and required disclosures must be prepared and filed. Mr. Pelosi decided to sell the shares at a loss rather than allow the misinformation in the press regarding this trade to continue,” the spokesman said.
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