Some ‘political scandals’ can often be written off as partisan gamesmanship. Then there are the slowly unraveling revelations about Congressman Tom Price. He is President-elect Trump’s nominee for Health and Human Services Secretary. That department is the key department that deals with things like health care.
“This isn’t a witchhunt. These are serious and disquieting allegations. The American people deserve to know if their potential Secretary of Health and Human Services violated a law against insider trading in Congress. the facts here — a narrow company that does hip and knee replacements — legislation with hip and knee implants, coming soon thereafter he bought stock — WOAH! These questions cry out for answers. Answers BEFORE, let me underline, before nominee Price goes before the Senate Finance Committee.”
Schumer spoke about how Trump was claiming to “drain the swamp” but as Schumer put it, Price has been “filling it up” as a Congressman. Schumer and others contend that Price’s behavior could be a clear violation of the Stock Act, which forbids Congressman to do this sort of thing.
What exactly is Schumer talking about and does it hold water? According to a CNN report, in March 2016, Price purchased stock in a company called Zimmer-Biomet. This company works in one very specific area — knee and hip replacements. Shortly thereafter, Price introduced legislation to deregulate their industry.
For more detail, the BBC reports;
Less than a week later he introduced legislation that would have delayed the creation of a new regulation that would have affected the medical device manufacturer. Two days after offering the bill, the medical company’s political action committee donated $1,000 (£800) to the congressman’s re-election campaign fund, campaign records show.
That’s not all, the BBC report also revealed this may not have been a one-time thing;
The Wall Street Journal reported last month that Dr Price had traded roughly $300,000 (£245,000) in shares over the past four years in health companies while at the same time working on legislation that would affect them.
Price is scheduled to go before the Finance Committee on Wednesday, January 18th. Schumer feels this is way too soon. He insists this matter must be fully investigated before any hearings or confirmations take place regarding Congressman Price.
Check out his fiery remarks from the Senate floor today below;
Perhaps this explains why Trump and the rest of the GOP have been so adamant to rush these nominees through? In any case, Schumer’s points are valid. This needs to be fully looked into before he is confirmed to the cabinet.
Featured image is a screen capture from the video above.