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Donald Trump’s pick for Health and Human Services introduced a bill to help a company he invested in
According to a new report from CNN, last year Congressman Tom Price bought shares in a medical device manufacturer only days before he introduced legislation that would have directly benefited the company. This new report raises new ethics concerns Donald Trump and his incoming administration and his nominee for Health and Human Services secretary.
The CNN report said, “Price bought between $1,001 to $15,000 worth of shares last March in Zimmer Biomet, according to House records reviewed by CNN.
Less than a week after the transaction, the Georgia Republican congressman introduced the HIP Act, legislation that would have delayed until 2018 a Center for Medicare and Medicaid Services regulation that industry analysts warned would significantly hurt Zimmer Biomet financially once fully implemented.”
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Medical device company then donated money to Congressman Tom Price
But the controversy doesn’t stop there for Mr. Price because after Price introduced his bill to provide Zimmer Biomet and other companies relief from regulation, the company’s political action committee donated to the congressman’s reelection campaign.
According to CNN:
“The new revelation is the latest example of Price trading stock in a health care firm at the same time as pursuing legislation that could impact a company’s share price. The issue has become a major liability for the congressman after The Wall Street Journal reported last month that he traded roughly $300,000 in shares over the past four years in health companies while pursuing legislation that could impact them.”
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