Pelosi’s husband, Paul Pelosi, invested anywhere from $500,000 to $1 million in Tesla last December, according to financial revealings. The electric car maker stands to benefit hugely from Biden’s infrastructure plan. Pelosi’s deputy chief of staff, Drew Hammill, explained to Fox that the speaker had no “prior knowledge” of the investment.
"If you read the disclosure here, you will see that under the 'Owner' column each is marked SP for spouse," Hammill announced. "The speaker has no involvement or prior knowledge of these transactions."
According to the transaction report, Paul Pelosi acquired 25 call options, essentially a nonbinding deal to buy a stock at a set price by a certain date, of Tesla stock for somewhere between $500,000 and $1 million on December 22. The report further remarks that Pelosi purchased 100 call options each of Apple stock and Walt Disney stock along with 20,000 shares of AllianceBernstein stock. Members of Congress are permitted to buy and sell stocks, though they are not permitted to use information provided by their positions to make their investments.
The Associated Press stresses that “though Pelosi’s husband’s investment was legal, it has drawn scrutiny from critics who claim that members of Congress should not be permitted to trade individual stocks at all. The House Speaker is likely to play a key role in shaping U.S. clean energy policy, and the investment means Pelosi could stand to financially benefit from the success of one electric vehicle company, Tesla.”
A spokesperson for Pelosi did not respond to the AP’s request for comment.
Republicans say the timing of Paul Pelosi's investments is questionable. "There's a reason Nancy Pelosi is one of the most disliked politicians in America—she's corrupt," stated Torunn Sinclair, national press secretary for the National Republican Congressional Committee. "This is yet another example of Nancy Pelosi using her power to tax the middle class and personally profit from it."
Senate minority leader Mitch McConnell (R., Ky.) said the GOP will oppose Biden's infrastructure plan. "I'm going to fight [the Democrats] every step of the way, because I think this is the wrong prescription for America," McConnell stated. If Democrats do not gain the backing of 10 Republican senators, they will have to use budget reconciliation to pass the bill on their own.
The left wing of the Democratic Party doesn't think Biden's plan goes far enough. Progressive lawmakers and environmental activists pushed Biden to include a $10 trillion climate package within the plan.