Joe Biden’s massive, over $2 trillion ‘infrastructure’ bill is going to put a lot more debt and taxes on all our backs if it passes.
But there’s one person we all know who could potentially make a pretty hefty piece of change, House Speaker Nancy Pelosi (D-CA).
In amongst all the Democratic agenda items, is about $174 billion for electric vehicles, charging stations, and other electric vehicle friendly-related policies. In January, Joe Biden had also pledged to transition the U.S. Government vehicle fleet with electric vehicles which in itself would pump massive amounts into electric vehicle-oriented companies like Tesla.
Guess who made a big investment in Tesla back in December, knowing that Joe Biden would likely be coming in and who would likely be proposing such a massive bill? Paul Pelosi, Nancy’s husband, purchased between $500,000 and $1 million in Tesla investments. That included 25 call options at a strike price of $500 until March 2022. That means he has the right to buy shares of the company at that $500 price until that date.
Now if this passes, obviously Tesla stands to make out very well. How convenient.
Nancy Pelosi’s deputy chief of staff Drew Hamill claimed that she didn’t have any prior knowledge about the transactions. “If you read the disclosure here, you will see that under the ‘Owner’ column each is marked SP for spouse,” he said. “The speaker has no involvement or prior knowledge of these transactions.”
Republicans are pointing out the timing of it all. Torunn Sinclair, national press secretary for the National Republican Congressional Committee, blasted Pelosi. “This is yet another example of Nancy Pelosi using her power to tax the middle class and personally profit from it.”
Remember the stink that Democrats made over Kelly Loeffler and David Perdue and their stock moves? Yet there’s no similar media attention to the timing of this and Pelosi, which people find questionable, even if it is legal.
It’s perhaps not surprising that she’s become so rich while being in Congress for all these years.
As we wrote about before, Democrats raised questions about poor Redditors making moves on Gamestop, but they don’t seem to have a similar interest when it involves one of their own who may be benefitting from such moves.
Unfortunately, this is just the start of how much they are going to try to shove through while they have power. They are going to do everything they can during this time to help guarantee that they hold onto that power.