Democratic Senator Called to Resign as Finance Committee Chairman After What Wife Is Investing in Becomes Known
Democratic Sen. Ron Wyden of Oregon, the chairman of the Senate Finance Committee, is facing calls to step down after it was reported his wife owns millions of dollars in stocks for tech companies he is tasked with regulating.
In a letter last week, members of the New York Young Republican Club noted the potential conflict of interest and asked the senator to step aside.
Rolling Stone reported that Nancy Wyden has been cashing in on the tech industry for years in a Feb. 24 article in which the outlet noted her powerful husband is widely viewed as “an ally of the tech industry.”
The outlet reported the senator’s wife is heavily invested in companies including Apple, Google and Microsoft.
“According to Wyden’s most recent financial disclosure, his wife, Nancy Bass Wyden, owns up to $1 million in Apple stock; $1 million in Microsoft; $500,000 in Amazon; and $500,000 in Google,” Rolling Stone reported.
The left-wing outlet spoke to what it called “ethics experts” who said the senator is not breaking any laws but noted his proximity to his wife and her investments “could pose a conflict of interest.”
In response to the reporting from Rolling Stone, the NYYRC wrote a letter to Wyden on March 9.
In the letter, the GOP group asked Wyden to relinquish his position leading the Finance Committee.
“As chairman of the Senate Finance Committee, you are charged with investigating and regulating Big Tech’s market abuses – and to protect American consumers from the risks posed by these companies on our economy and democracy,” it said.
“We are alarmed by reports of your wife’s exceptionally large stock holdings, totaling $3 million, in four of the Big Five technology companies that you are tasked with overseeing — Apple, Microsoft, Amazon, and Google,” the group said.
“This clear conflict of interest is dangerous to the American people, and we demand that you immediately step down from the chairmanship of the Finance Committee.”
The NYYRC noted the companies in which Nancy Wyden has a significant financial interest have collectively censored conservative Americans for years.
“As Chair of the Senate Finance Committee, you help determine whether these companies can continue their dangerous and socially destructive behavior, or whether they will be reined in,” the group wrote.
“And Mrs. Wyden’s investments — and therefore your own financial ties to these companies via your wife — bring your commitment to the task into question,” it said.
The letter also contained reporting from Rolling Stone to share that the concern is not politically one-sided.
The NYYRC concluded Wyden’s position as chairman of the Finance Committee calls into question his “personal credibility.”
The Democrat has not offered any indication he intends to step down from the committee.
A Wyden spokesman told Rolling Stone last month that the senator and his wife “do not discuss their work” and that they have separate finances.
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