Pro-Trumpcare Republicans Had Millions in Health Care Stock
BY JUSTIN GLAWE
Forty lawmakers who voted for AHCA had more than $23 million in investments and made more than $2 million in profit. And some of the most heavily invested cast key votes.
The investments may be worth as much as $39 million and grossed as much as $6 million in profits, according to the disclosure reports that require members of Congress to report investments and income within a price range.
Several Republicans with key roles in passing the bill held more than $500,000 in medical stock.
The majority of the companies in which lawmakers own stock represent the giants of the pharmaceutical and medical-device industries. Republicans owned between $1.3 million and $4.9 million worth of stock in Abbott Labs, Johnson and Johnson, and 3M, three of the country’s largest medical-device manufacturers. They also owned between $2.7 million and $5.5 million in pharmaceutical giants Merck, Pfizer, Bristol-Myers Squibb, Pfizer, and Shire.
The AHCA would benefit these companies by eliminating billions of dollars in taxes and fees on pharmaceutical and medical-device manufacturers—a provision of the bill that doesn’t reflect a violation of ethics rules because it will have a broad effect across health care industries, according to ethics experts.
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http://www.thedailybeast.com/articles/2017/05/24/pro-trumpcare-republicans-owned-millions-in-health-care-stock?via=newsletter&source=DDMorning
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