Sen. Michael Bennet (D-CO) denies that he suggested making investment decisions based on legislation being negotiated in the Senate.
During a Bloomberg interview, Bennet discussed the reconciliation package and mentioned that he is “not buying or selling any stocks based on it,” which prompted the National Republican Senatorial Committee (NRSC) to question whether the senator was making a statement about investing based on senate negotiations.
Fox News Digital asked Bennet if he considered private Senate discussions before making investments, but his campaign denied the claims in an exclusive statement.
“No, of course not,” Georgina Beven, spokesperson for Bennet for Colorado campaign, told Fox. “[Majority Leader Mitch] McConnell and [Joe] O’Dea are desperately distorting Michael’s observation that the Inflation Reduction Act remains a work in progress because they both oppose this effort to lower drug costs for working people, fight inflation, reduce the deficit, and close tax loopholes for hedge fund managers and the biggest corporations.”
Beven also told Fox that the Senator does not control his investments and that they are managed by a local Denver asset manager. She said that Bennet is also a supporter of the STOCK Act, which bans members of Congress from insider trading.
Bennet entered the political scene in 2009 when he was appointed Colorado’s senator by former Gov. Bill Ritter. According to federal filings, just days after being sworn into office, Bennet sold off at least $2 million worth of stock.
His net worth dropped the first few years he was in office, but spiked in 2013 and has seen dramatic growth during his time as Senator.
Records from 2018 found Bennet owned a $1 million home in Washington, D.C., and a $2.1 million home in Denver. He had $5 million in a trust and $600,000 in a college fund for his children.
Bennet is currently in a competitive midterm race against Republican nominee Joe O’Dea, a construction company owner and first-time political candidate.
Speaker Nancy Pelosi, another wealthy Senator, was recently asked by a reporter: “Over the course of your career, has your husband ever made a stock purchase or sale based on information he received from you?”
The question comes after Pelosi’s husband bought 20,000 shares of Nvidia, a purchase of over $1 million. Just weeks later, a congressional vote gave a massive subsidy to the computer chip company.
Pelosi immediately refuted the claim and has insisted that she has no prior knowledge of her husband’s investment decisions.