Democrat Rep. Elaine Luria Votes for Massive Chip Subsidy Legislation, Holds Millions in Chip StocksNick Gilbertson and Jacob Bliss 26 Jul 2022
Vulnerable Democrat Rep. Elaine Luria (D-VA) voted on legislation to provide billions in subsidies to boost chip manufacturing while holding up to $25 million of stocks in Nvidia Corporation, according to financial disclosures, a holding that has increased up to 400 percent since she first reported owning up to $5 million in the stock.
Of course, this comes after Luria said earlier in the year that the idea of banning stock trading among members of Congress was “bullshit” after House Speaker Nancy Pelosi (D-CA) appeared to finally cave and voiced her public support for such a measure.
“So my thoughts on it, you know, I think this whole concept is bullshit. Because I think that, why would you assume that members of Congress are going to be inherently bad or corrupt?” Luria wondered while speaking with PunchBowl’s Max Cohen in February. She added:
We already have the STOCK Act that requires people to report stock trades. Why would you assume – I mean, the people that you’re electing to represent you, it makes no sense that you’re going to automatically assume that they’re going to use their position for some nefarious means or to benefit themselves. So I’m very strongly opposed to any legislation like that.
However, Luria’s financial disclosures revealed why the idea of preventing lawmakers from owning or trading sparks sparked ire. While Luria is apprehensive of such a measure, she also has millions of dollars on the line. All while she and her husband reportedly traded up to half a million dollars in stocks last year, and the two jointly own millions together, as Business Insider’s Bryan Metzger noted.
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https://www.breitbart.com/politics/2022/07/26/democrat-rep-elaine-luria-votes-massive-chip-subsidy-legislation-holds-millions-chip-stocks/
