Sen.‘s Family Bought Stock Before He Voted

Democratic Connecticut Sen. Richard Blumenthal recently disclosed that an investment fund managed by his wife’s family bought between $1 million and $2 million in tech company stocks, including shares in Intel. Blumenthal’s disclosure came three weeks before a Senate hearing where Intel’s CEO backed legislation handing billions in subsidies to the semiconductor industry. Five days after the hearing, Blumenthal voted in favor of the America COMPETES Act, which grants $52 billion in subsidies to the semiconductor industry. Democratic Connecticut Sen. Richard Blumenthal disclosed in early March that an investment fund managed by his wife’s family purchased between $250,000 and $500,000 worth of Intel stock. A little over three weeks later, he voted for legislation handing billions in subsidies to semiconductor manufacturers that could benefit Intel.The senator’s actions seem to indicate a conflict of interest, congressional …

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