How much do US Senators own in health sector companies?
While medical debt piles up and tens of millions of Americans are still uninsured, senators own as much as $9.5m in health sector companies including insurers UnitedHealth Group and Anthem, pharmaceutical companies Abbott Labs, Johnson & Johnson and Pfizer, and pharmacy benefit manager CVS Health.
Which Senate Banking Committee members own stocks in their own companies?
Nine other banking committee members are personally invested in the financial companies they oversee including the Republican John Kennedy and the Democrats Doug Jones, Robert Menendez and Tina Smith. The same phenomenon of senators owning stock in industries they oversee exists in many other Senate committees.
How much do companies donate to US Senators'campaigns?
( Forbes looked at donations made over the last decade to encompass at least one election cycle per senator.) A large chunk of that $1.6 million has gone toward the campaign committees of six senators, who have received $100,000 or more from those seven companies’ PACs in the last decade.
Will Senate Finance Committee ask Big Pharma executives about drug prices?
Executives from seven of the country’s biggest pharmaceutical companies are expected to face tough questions from members of the Senate Finance Committee Tuesday about drug prices, which have raised the ire of President Trump and the specter of Congressional restrictions.
How many companies did the Senators invest in?
The majority of these stocks come from public companies, and some are private. Overall, the senators are invested in 338 companies – including tech firms such as Apple and Microsoft, oil and gas giants including ExxonMobil and Antero Midstream, telecom companies including Verizon, and major defense contractors such as Boeing – in ...
How much do senators own?
While medical debt piles up and tens of millions of Americans are still uninsured, senators own as much as $9.5m in health sector companies including insurers UnitedHealth Group and Anthem, pharmaceutical companies Abbott Labs, Johnson & Johnson and Pfizer, and pharmacy benefit manager CVS Health.
How much does Dianne Feinstein own?
In terms of total stock ownership in the five sectors, Senator Dianne Feinstein, who along with husband Richard Blum, an investment banker, is second, with up to $7m invested in the five sectors. Blum’s purchase of as much as $250,000 worth of Facebook stock three months before his wife questioned the Facebook CEO, Mark Zuckerberg, came under scrutiny after Sludge reported the trade. He has since sold off the stock, but the couple still owns up to $3.3m worth of communications and electronics sector stock, which is heavily represented their state of California, including between $150,001 and $650,000 invested in Alphabet.
How much does Jacky Rosen own?
Senator Jacky Rosen, who is also on both subcommittees, owns between $310,000 and $1m worth of communications and electronics stock. Her largest potential investments are as much as $265,000 in Amazon, up to $115,000 in AT&T and $100,000 in software company Adobe.
Who are the senators in 2015?
Senators Mike Rounds, Shelley Moore Capito, Roy Blunt, John Hoeven, Jim Inhofe, Joe Manchin and Steve Daines in 2015. Senators are far wealthier than most constituents, and in a prime position to increase wealth via policymaking. Photograph: Tom Williams/Getty Images.
Is it illegal to have personal financial stakes in Congress?
Not only are the senators far wealthier than most of their constituents, but they’re in a prime position to increase their wealth via policymaking. It’s not illegal for members of Congress to have personal financial stakes in the industries on which they legislate.
Who is the Democrat who participated in the tobacco hearings?
Grassley will “demand accountability and act in the interest of taxpayers,” he said. (The campaign committee of ranking member Senator Ron Wyden , Democrat of Oregon who participated in the tobacco hearings in the 1990s, has received $78,500 from these PACs since 2009.)
How much did Tom Carper contribute to the state of Delaware?
Tom Carper (D-Delaware) - $100,000. Spokeswomen for Senator Portman and Senator Carper, when asked for comment on the contributions, both wrote via email that Portman and Carper have helped lead efforts to reduce the cost of drugs.
How much did Mark Warner donate to the campaign?
In the last six months he donated $5,000 to the campaign committees of Senator Mark Warner, Democrat of Virginia, and $3,900 to Senator Tom Carper, Democrat of Delaware. Sanofi CEO Olivier Brandicourt spent over $8,000 contributing to the 2018 campaigns of Tom Carper and Mark Warner, too.
How much has Merck spent on campaign contributions?
Merck CEO Ken Frazier has spent some $90,000 on federal election campaign contributions in the last decade, $40,000 of which has gone toward current members of the finance committee.
Who is the CEO of Pfizer?
New Pfizer CEO Albert Bourla contributed $2,700 each to Senator Portman’s campaign committee and to the campaign committee of Senator Pat Toomey, Republican of Pennsylvania. Bristol-Myers Squibb CEO Giovanni Caforio contributed $7,500 to last year’s campaigns of Senator Carper and Senator Crapo.
What sector has outperformed the S&P 500?
Since Dec. 27, 2019, the day an American contractor was killed by a rocket in Iraq, the aerospace and defense sector has outperformed all other sectors in the S&P 500, according to a Jan. 8 Marketwatch write-up of research from Bespoke Investment Group.
Why are Congress's investments in defense contractors more significant than investments in other industries?
Members of Congress’s investments in defense contractors may present more significant potential conflicts of interest than investments in other industries because the contractors rely heavily on defense spending that is approved by Congress for their revenue.
What is the subcommittee in the Defense Department?
The subcommittee is in charge of drafting the procurement section of the annual Defense spending bill, which allocates funding for the Defense Department and specifies weapons systems and other goods for the department to purchase from private contractors.
Who is the CEO of Leidos?
In May 2019, Leidos CEO Roger Krone testified before Connolly’s committee in favor of legislation calling on the government to guarantee back pay for contractors in the wake of government shutdowns. Connolly had written a letter to House appropriators months earlier seeking support for such a bill. ×.
What companies sell arms to Saudi Arabia?
Four companies—Raytheon, Lockheed Martin, Boeing, and General Dynamics —make up 90% of arms sales to Saudi Arabia in deals worth over $125 billion, according to a July 2019 report by the Center for International Policy.
Lawmakers invest in big pandemic-era stocks
The investors in vaccines included freshman Rep. Marie Newman, a Democrat of Illinois, whose husband, Jim Newman, has traded shares of both Johnson & Johnson and Moderna. The congresswoman's 2020 annual personal financial disclosure also listed the couple together holding shares in Moderna.
Investments in 3M, Quest, Regeneron
Democratic lawmakers also invested in COVID-19-sensitive companies, including through selling and buying stocks in vaccine manufacturers and other companies deeply involved with pandemic relief efforts.
Democrats' mixed messaging
Early in the pandemic, some lawmakers condemned people looking to make money off COVID-19-related treatments and defenses.
Pharmaceutical contributions and conflicts
Lawmakers' trading stocks of companies that have been profiting from their response to the pandemic has raised concerns about ethics and conflicts of interest.
What is private equity treatment?
Private equity firms are acquiring or building both residential and outpatient treatment centers. Only some offer medication-assisted treatment to help patients withdraw from drug or alcohol dependence, which is now considered standard evidence-based practice.
How many people are underdiagnosed with opioid addiction?
But a recent McKinsey & Co. analysis found the opioid addiction problem is significantly underdiagnosed and the nationwide prevalence may be 4 million to 6 million people. Only about 11% of people with substance use disorders are receiving treatment, according to the National Survey on Drug Use and Health. That means about 18 million people in need ...
Does Google accept addiction ads?
In addition, Google announced in April it will only accept ads from addiction treatment centers that have been vetted by Portland, Ore.-based LegitScript based on a criminal background check, licensure and a commitment to best practices.
Is the addiction treatment industry a scandal?
The addiction treatment industry also has faced other types of scandals, putting private equity investors on the defensive. Some companies have faced criticism for questionable practices around urine testing for substance use disorders. Others have been hit with allegations of poor care that endangered patients.
Does Lakeview accept Medicaid?
Lakeview facilities remain mostly out of network for commercial payers and don't accept Medicaid. The Blue Cross and Blue Shield Association in September stressed the urgency of upgrading the quality of addiction treatment.
Who is Greg Williams?
Greg Williams, executive vice president of Facing Addiction, a treatment advocacy group, said he would like to see private equity investors work more with mainstream health systems to strengthen addiction treatment services in each community and closely link the services with primary-care providers.
Is it a crime to refer a patient to a recovery home?
The federal Support Act enacted last month makes it a crime to solicit or receive any remuneration for referring a patient to a recovery home, clinical treatment facility or laboratory, whether the patient is privately or publicly insured.