Democratic Representative Kathy Manning bought thousands of shares of the chip company a day before voting to pass the CHIPS Act

Democratic Rep. Cathy Manning has amassed thousands of dollars in semiconductor stocks just a day before voting on a bill that would provide massive subsidies to the sector, according to new data. One of the companies is already planning large-scale investments, which have become possible thanks to the legislation.

Manning and her husband bought up to $30,000 worth of Micron Technology stock and $95,000 worth of Nvidia stock on July 27, new records show. The next day, Manning voted to pass the CHIPS Act, which would help expand semiconductor manufacturing capacity in the United States while providing the industry with tens of billions of dollars in subsidies.

The legislation received a lot of media attention prior to the vote, particularly regarding the stock investments of House Speaker Nancy Pelosi’s husband.

“Proud to vote for this historic investment in American CHIP manufacturing, lowering costs and creating good-paying jobs,” Manning tweeted after the vote.

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Manning’s congressional office told Fox Business that the investments “are in accounts that are fully controlled by third-party managers” and that she and her husband “have no discretion or control over the underlying assets held in the accounts.”

“Neither Congresswoman Manning nor her husband exercised or attempted to exercise any control or direction over any transactions conducted within the accounts,” the office said.

“Congresswoman Manning supported the CHIPS Act to support semiconductor chip manufacturing in the United States because it creates good-paying U.S. jobs and protects national security,” they added.

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Congresswoman Kathy Manning and her husband have purchased up to $30,000 worth of Micron Technology stock, which they plan to invest heavily through the CHIPS Act. (Ting Shen-Pool/Getty Images/Getty Images)

Micron is already planning a major investment after President Biden signed the CHIPS Act into law on Tuesday.

That day, the company announced it would invest $40 billion by the end of the decade to build chip factories, which it attributed to legislation.

“With anticipated grants and loans made possible by the CHIPS and Science Act, these investments will enable America to build the world’s most advanced memory manufacturing facility,” Micron said in a press release.

“Micron plans to begin production in the second half of the decade, building overall supply in line with industry demand trends.”

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The investment is “the largest in memory manufacturing in US history” and will create up to 40,000 American jobs, the company said.

Meanwhile, Nvidia made headlines after House Speaker Nancy Pelosi’s husband, Paul, bought up to $5 million in company stock just weeks before the CHIPS Act vote.

Paul Pelosi, however, divested the stock just before the vote because of the backlash. Pelosi said Paul never bought the stock based on the information she gave him.

Congresswoman Elaine Luria, R-Virginia, was also slammed for holding up to a $25 million investment in Nvidia that she bought a decade ago while not in Congress. Virginia Sen. Jen Kiggans, her Republican rival, urged her to divest.

Kiggans said keeping Luria’s investment was “the latest example of how she will put profits before the well-being of her constituents,” adding that it was “unethical” and “self-serving.”

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While Micron makes the chips, Nvidia designs them. The CHIPS Act specifically targets manufacturers, but Nvidia could still benefit from increased federal support for manufacturers, according to InvestorPlace.

Manning’s stock has attracted attention before. Sludge said earlier this year that the North Carolina Democrat and her husband failed to disclose dozens of stock transactions last year within the 45-day deadline required by the Exchange Act.

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