Before CHIPS vote, Kathy Manning made six-figure investment in chip companies | Eastern North Carolina Now | U.S. Rep. Kathy Manning, a Democrat representing the Triad area of North Carolina, is once again in the news for her stock trading, after making investments in chip companies the day before the July 28 U.S. House vote on the CHIPS Act.

Coronavirus Disease 2019 (COVID-19)
    Publisher's Note: This post appears here courtesy of the Carolina Journal. The author of this post is David Larson.

    U.S. Rep. Kathy Manning, a Democrat representing the Triad area of North Carolina, is once again in the news for her stock trading, after making investments in chip companies the day before the July 28 U.S. House vote on the CHIPS Act.

    FOX Business picked up the story on Aug. 12 after investing site Unusual Whales discovered the information on Aug. 11 in new investment disclosures by Manning.

    "Manning thought she was right on the money with this one. She and her husband purchased up to $30,000 in Micron Technology stocks and up to $95,000 in Nvidia stocks just a day before the act passed," said Taylor Mazock, the Republican National Committee's North Carolina press secretary, in an Aug. 13 press release. "The CHIPS Act provides semiconductor facilities with subsidies and now a portion of that may end up right in Manning's pocket."

    Micron is a Boise, Idaho-based chip manufacturer. Nvidia designs computer chips and is based in Santa Clara, California. Both are poised to benefit from the CHIP Act's boosting of domestic chip manufacturing.

    In response to FOX Business, Manning's congressional office said the investments are not directly controlled by Manning or her husband but "are in accounts entirely controlled by third party managers."

    The office continued, "Neither Congresswoman Manning nor her husband exercised, or attempted to exercise, any control or direction over any transactions executed within the accounts... Congresswoman Manning supported the CHIPS Act to maintain semiconductor chip manufacturing in the United States because it creates good-paying American jobs and protects national security."

    While the investment doesn't appear to break any ethics laws, since the language of the bill was publicly available by that date, it struck many critics as another example of legislators getting wealthy off of bills they help to form and pass.

    Manning is already one of the wealthiest members of Congress and has come under fire already this year for keeping over $1 million in an account Cayman Islands, a popular tax have; and for reportedly failing, on 51 occasions, to report stock trades within the required 45-day window.

    U.S. House Speaker Nancy Pelosi, D-California, received similar blowback after her husband Paul also invested $5 million in Nvidia before the CHIPS vote.
Go Back


Leave a Guest Comment

Your Name or Alias
Your Email Address ( your email address will not be published)
Enter Your Comment ( no code or urls allowed, text only please )



Comment

( August 16th, 2022 @ 8:38 pm )
 
This is the Nancy Pelosi scheme for all good little, non patriot, and not so bright US Representatives, of which Rep. Kathy Manny is one.

"Do as I (Speaker Non Patriot Pelosi) tell you, and I will give you how we will waste your children's futures, and as one of my non patriot representatives, you will be rewarded by Leadership giving you the pre-vote vote count in the House, in the Senate, and whether America's First Idiot President will sign or not."

Have you ever considered a career in public service? In so would you be a patriot, or would you be a Democratic Socialist Non Patriot, and seek all the big rewards that go along with that designation?



Judge denies Stein’s latest request to block potential prosecution for campaign lies Carolina Journal, Editorials, Op-Ed & Politics New Bern eye surgeon urges N.C. Supreme Court to address certificate-of-need dispute


HbAD0

Latest Op-Ed & Politics

A nursing home has issued an apology after video went viral of a stripper hired to entertain wheel-chair bound senior citizens at a veteran home for retired army personnel.
The economy is in the toilet! What will you do? Relax! This is nothing to worry about. We're all just transitioning to a brighter future together!
parliamentary election puts conservatives over centrists
A man wearing a reflective vest and a rainbow-colored clown wig stormed a Dairy Queen in Pennsylvania on Saturday, carrying a loaded gun and telling police that he was working “undercover” and planned to “restore Trump to president king of the United States.”
House Speaker Nancy Pelosi drafted articles of impeachment against newly elected Italian Prime Minister Giorgia Meloni Tuesday to combat what she calls "far-right extremist Mussolini cosplay under the Tuscan sun."
“The View” host Sara Haines falsely claimed on Wednesday that there was “no such thing” as people having late-term abortions — and then immediately noted exactly how many people were actually having late-term abortions.

HbAD1

One member of North Carolina's congressional delegation has signed a letter urging colleagues to reject Democrats' temporary federal spending plan.
The Department of Treasury’s internal watchdog will audit the Internal Revenue Service to ensure that its own agents are paying their taxes.
The Beaufort County Commissioners meet each month for one general meeting to do most of the People's business here in Beaufort County, and we present that meeting in full review here on ENC NOW.
Speedway jumps price 38 cents per gallon - Biden responsible
West Virginia lawmakers passed a bill on Tuesday that bans abortion with limited exceptions.
Storm track has moved east with higher rain totals now expected in central North Carolina Hurricane Ian made landfall in South Carolina at 2:05 PM
Sen. Joe Manchin (D-WV) bucked many in his party over the immigration crisis on the U.S. southern border during an interview this week, saying that the U.S. needs “the wall and a lot more.”
The protests in Iran have been raging for over a week, with more speaking out against Iran's use of "morality police" in enforcing hijab wearing among women.
California has started a new abortion website for residents and out-of-state women to provide more information about abortion clinics in an to attempt to make the state increasingly abortion-friendly.

HbAD2

 
Back to Top