Pennsylvania Republican called out by Ethics panel for stock investments
Lawmakers are barred from insider trading under the STOCK Act, which Congress passed in 2012 in direct response to concerns about lawmakers and government officials using their proprietary information to advance their own personal gain. Under this law, officials also cannot give such information to others for the purposes of stock trading.
Still, the committee was concerned that Kelly's wife bought more stock during the investigation, and Kelly did not disclose the purchase in a timely manner — nor did he answer questions about it.
In a statement, Kelly said, 'My family and I look forward to putting this distraction behind us.'
He added: 'This investigation has unnecessarily lasted for nearly five years. In the years since this investigation began, the Cleveland Cliffs Butler Works plant faced an uncertain future due to the Biden administration's reckless energy policies. Throughout this process, I have fought for the 1,400 workers at the plant, I've spoken with these workers, and they appreciate the hard work we have done to fight for those jobs and for Butler.'
Kelly is a member of the powerful Ways and Means Committee, which oversees tax policy, and sits on the GOP Steering Committee, which makes recommendations to the full Conference on House leadership assignments.
The Ethics Committee published a second report Friday regarding Rep. Alexandria Ocasio-Cortez (D-N.Y.), whose attendance to the 2021 Met Gala caused much consternation. The panel found that despite her attempts to comply with House rules, Ocasio-Cortez's conduct, including her partner's attendance at the event at no cost, was not entirely appropriate. Once she repaid the expenses, the Ethics Committee said, it would consider the matter closed.
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