Democratic Rep. Kathy Manning, D-N.C., scooped up thousands of dollars in semiconductor company stock just one day before voting to pass a bill providing massive subsidies to the sector, new disclosures show. One of the companies is already planning large-scale investments made possible due to the legislation.
Manning and her husband purchased up to $30,000 in Micron Technology stocks and up to $95,000 in Nvidia stocks on July 27, the new disclosures show. The next day, Manning voted to pass the CHIPS Act, which will help expand semiconductor manufacturing facilities in the United States while providing the industry tens of billions of dollars in subsidies.
The legislation received plenty of media attention prior to the vote, particularly concerning stock investments made by Speaker of the House Nancy Pelosi’s husband.
“I’m proud of my vote to pass this historic investment in American CHIP manufacturing, lower costs, and creating good-paying jobs,” Manning tweeted after the vote.
Read more at Fox Business.
