House Speaker Nancy Pelosi received backlash for a massive stock purchase of Tesla that came only weeks before President Joe Biden stated his intention of making the federal vehicle fleet entirely electric.
“It’s corrupt and unacceptable for members of Congress, particularly the speaker, to trade stocks in companies affected by their votes in Congress,” said John Pudner, the executive director of TakeBack.org, according to the The Washington Times.
Paul Pelosi, Speaker Pelosi’s husband, placed a bet of up to $1 million on the future of Tesla, Inc. under the Biden administration.
Concerns arose as Speaker Pelosi likely has insights into Biden’s plans for the industry, which are expected to include credits and incentives to promote the shift away from traditional vehicles.
“The disclosure forms clearly indicate these investments were made by Mr. Paul Pelosi not the Speaker,” a spokesman for Speaker Pelosi’s office told FOX Business in a statement. The letters “SP” listed under owner indicate the purchases were made by a spouse.
