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'Obvious Conflict of Interest': Report Reveals 50+ US Lawmakers Hold Military Stocks
"It's abjectly terrifying that the personal benefit of any member of Congress is factored into decisions about how to wield and fund the largest military in the world," said one critic.
Sep 12, 2024
At least 50 U.S. lawmakers or members of their households are financially invested in companies that make military weapons and equipment—even as these firms "receive hundreds of billions of dollars annually from congressionally-crafted Pentagon appropriations legislation," a report published Thursday revealed.
Sludge's David Moore analyzed 2023 financial disclosures and stock trades disclosed in other reports and found that "the total value of the federal lawmakers' defense contractors stock holdings could be as much as $10.9 million."
According to the report:
The spouse of Sen. Susan Collins (R-Maine), the ranking member of the Defense Appropriations subcommittee, holds between $15,000 and $50,000 worth of shares in each of Boeing and RTX, as well as holdings in two other defense manufacturers. Sen. Jerry Moran (R-Kansas), another Defense Appropriations subcommittee member, holds up to $50,000 in the stock of Boeing, which received nearly $33 billion in defense contracts last year. On the Democratic side of the aisle, Sen. John Hickenlooper (Colo.) holds up to a quarter of a million dollars' worth of stock in RTX...
The most widely held defense contractor stock among senators and representatives is Honeywell, an American company that makes sensors and guiding devices that are being used by the Israeli military in its airstrikes in Gaza. The second most commonly held defense stock by Congress is RTX, formerly known as Raytheon, the company that makes missiles for Israel's Iron Dome, among other weapons systems.
All 13 senators whose households disclosed military stock holdings voted for the most recent National Defense Authorization Act, which, as Common Dreams reported, allocated a record $886.3 billion for the U.S. military while many lawmakers' constituents struggled to meet their basic needs.
"It is an obvious conflict of interest when a member of Congress owns significant stock investments in a company and then votes to award the same company lucrative federal contracts," Craig Holman, government affairs lobbyist at the consumer advocacy group Public Citizen, told Sludge.
"Whether or not the official action is taken for actual self-enrichment purposes is beside the point. There is at least an appearance of self-enrichment and that appearance is just as damaging to the integrity of Congress," Holman added. "This type of conflict of interest is already banned for executive branch officials and so should be for Congress as well. The ETHICS Act would justly avoid that conflict of interest by prohibiting members of Congress and their spouses from owning stock investments altogether."
Holman was referring to the Ending Trading and Holdings In Congressional Stocks (ETHICS) Act, introduced earlier this year by Sens. Jeff Merkley (D-Ore.), Jon Ossoff (D-Ga.), Gary Peters (D-Mich.), and Josh Hawley (R-Mo.).
In the House of Representatives—where the 2024 NDAA passed 310-118, with the approval of over two dozen members who own shares in military companies—House Foreign Affairs Committee Chair Michael McCaul's (R-Texas) household owns up to $2.6 million in General Electric, Oshkosh Corporation, and Woodward shares. Rep. Dave Joyce (R-Ohio), who sits on the Defense Appropriations subcommittee, owns as much as $100,000 worth of Boeing and General Electric stock.
Other House lawmakers with potential conflicts of interest include Rep. Gerry Connolly (D-Va.), a member of the Foreign Affairs Committee, who owns Leidos shares worth as much as $248,000; Rep. Debbie Dingell (D-Mich.), who owns up to $100,000 worth of RTX stock; and Rep. Patrick Fallon (R-Texas), a member of the Armed Services Committee who holds Boeing stock worth between $100,000 and $250,000.
"Every American should take a long, hard look at these holdings to conceptualize the scope of Congress' entanglement with defense contractors," Public Citizen People Over Pentagon advocate Savannah Wooten told Sludge. "It's abjectly terrifying that the personal benefit of any member of Congress is factored into decisions about how to wield and fund the largest military in the world."
"Requiring elected officials to divest from the military-industrial complex before stepping into public service would create a safer and more secure world from the outset," she added.
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As Supreme Court Case Looms, 164 US Lawmakers Defend Trans Youth
"Decisions about healthcare belong to patients, their doctors, and their families—not politicians," said Rep. Mark Pocan.
Sep 03, 2024
As LGBTQ+ rights advocates prepare for oral arguments in a U.S. Supreme Court case about bans on gender-affirming healthcare for trans youth, 164 members of Congress on Tuesday urged the justices to strike down Tennessee's 2023 law.
Tennessee is one of over two dozen states that has recently banned some or all of such care for trans minors, according to the Movement Advancement Project. In response to challenges from advocacy groups and the Biden administration, the right-wing high court agreed to take the case in June.
Arguments in United States v. Skrmetti are expected in the fall. The justices will decide whether Tennessee Senate Bill 1—which bans surgery, puberty blockers, and hormone treatment for trans youth—violates the Equal Protection Clause of the 14th Amendment to the U.S. Constitution.
Congressional Democrats' new "friend of the court" brief argues that the court "should be highly skeptical of legislation banning safe and effective therapies that comport with the standard of care," and "should carefully examine the deeply troubling role that animosity towards transgender people has played in state legislation."
"The law at issue in this case is motivated by an animus towards the trans community and is part of a cruel, coordinated attack on trans rights by anti-equality extremists."
The amicus brief is led by House Judiciary Committee Ranking Member Jerry Nadler (D-N.Y.), Congressional Equality Caucus Chair Mark Pocan (D-Wis.), Rep. Frank Pallone Jr. (D-N.J.), Sen. Jeff Merkley (D-Ore.), and Senate Health, Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Chair Ed Markey (D-Mass.).
"For years, far-right Republicans have been leading constant, relentless, and escalating attacks on transgender Americans," Markey said in a statement. "Their age-old, discriminatory playbook now threatens access to lifesaving, gender-affirming care for more than 100,000 transgender and nonbinary children living in states with these bans if the Supreme Court upholds laws like Tennessee's at the heart of Skrmetti that are fueled by ignorance and hate."
"It takes a special type of cruelty to target children for who they are," he continued. "I am proud to stand with my colleagues against dangerous, transphobic attacks and to reaffirm that our nation's commitment should be to equality and justice for all."
Pocan emphasized that "decisions about healthcare belong to patients, their doctors, and their families—not politicians."
"The law at issue in this case is motivated by an animus towards the trans community and is part of a cruel, coordinated attack on trans rights by anti-equality extremists," he added. "We strongly urge the Supreme Court to uphold the Constitution's promise of equal protection under the law and strike down Tennessee's harmful ban."
The brief is co-signed by another 150 Democrats in the House of Representatives, eight other Democratic senators, and Sen. Bernie Sanders (I-Vt.), who caucuses with the party. It is also supported by the ACLU and the Human Rights Campaign (HRC).
"Thank you to the many members of Congress for standing with transgender and nonbinary youth across our country in asking the Supreme Court to find bans on lifesaving gender-affirming care to be unconstitutional," said HRC vice president of government affairs David Stacy.
"The government should not be able to interfere in decisions that are best made between families and doctors, particularly when that care is necessary and best practice," Stacy stressed. "These bans are dangerous, animated purely by anti-transgender bias, and have forced families to make heartbreaking decisions to support their children."
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Rights Group Says Netanyahu Visit Puts US Complicity in Spotlight
"U.S. officials are well aware of the mounting evidence that Israeli forces have committed war crimes in Gaza," said Human Rights Watch.
Jul 23, 2024
As Israeli Prime Minister Benjamin Netanyahu arrived in Washington, D.C. ahead of his planned speech to a joint meeting of the U.S. Congress, a leading human rights organization said Tuesday that the visit by Israel's deeply unpopular leader shines a spotlight on the American government's complicity in atrocities committed in the Gaza Strip.
"U.S. officials are well aware of the mounting evidence that Israeli forces have committed war crimes in Gaza, including most likely with U.S. weapons," Human Rights Watch (HRW) executive director Tirana Hassan said in a statement. "U.S. lawmakers should be seriously concerned about the liability risks of continuing to provide arms and intelligence based on Israel's flimsy assurances that it's abiding by the laws of war."
The U.S. is Israel's leading ally, supplying the country with more weaponry than any other nation and frequently providing diplomatic cover on the world stage despite Israeli forces' frequent human rights violations in the illegally occupied Palestinian territories.
On Monday, as Netanyahu traveled to the U.S. capital, Israeli forces killed dozens of Palestinians in a massive attack in southern Gaza.
"It is like doomsday," one Gaza resident toldReuters.
"The invitation lends legitimacy to his deadly siege and bombardment—at a time when his governing coalition continues to bombard Gaza."
A U.S. State Department report published in May said it is "reasonable to assess" that Israeli forces have used American weaponry in ways "inconsistent" with international law, but the Biden administration has continued to approve arms sales to the country—including a previously delayed shipment of 500-pound bombs—despite mounting calls for a weapons embargo.
Legal experts have warned since the start of Israel's nearly 10-month assault on Gaza that U.S. officials risk being deemed complicit in genocide if they continue arming the Israeli government. A number of U.S. officials have resigned in protest of the Biden administration's support for Israel's war on Gaza.
HRW said Tuesday that the United States and other nations "should suspend military assistance and arms sales to Israel" and use their "leverage with Israel to save lives."
"Israeli forces have unlawfully attacked residential buildings, medical facilities, and aid workers, restricted medical evacuations, and used starvation as a weapon of war in the Gaza Strip, where nearly 500,000 people are experiencing a 'catastrophic' lack of food in famine-like conditions," the group said. "A staggering more than 38,600 Palestinians have been killed, according to the Gaza Health Ministry."
The organization's statement came as Netanyahu arrived in the U.S. capital at the invitation of Senate Majority Leader Chuck Schumer (D-N.Y.) and House Speaker Mike Johnson (R-La.), who have helped approve billions of dollars in military aid for Israel.
A number of lawmakers are expected to boycott the Israeli leader's speech, and U.S. Vice President Kamala Harris—who is expected to become the 2024 Democratic presidential nominee—will not be in attendance for Netanyahu's address due to a previously scheduled campaign event. U.S. President Joe Biden, who dropped out of the presidential race over the weekend, is expected to meet with Netanyahu at the White House on Thursday.
U.S. Sen. Jeff Merkley (D-Ore.) announced late Monday that he will boycott Netanyahu's speech, writing in a social media post that the Israeli prime minister's "war strategy killed 12,000+ women and children, inflicted widespread starvation, and prioritized his political survival over the release of hostages."
"He should not have a platform before Congress," Merkley added.
Oxfam America president and CEO Abby Maxman echoed that message, saying in a statement Tuesday that "it is wildly inappropriate for Congress to have extended an invitation for Prime Minister Netanyahu to speak."
"The invitation lends legitimacy to his deadly siege and bombardment—at a time when his governing coalition continues to bombard Gaza, international condemnation is growing, Israelis are demanding that hostages be brought home, and, under his leadership, the Israeli military is bombing aid workers, schools and hospitals," said Maxman.
"Instead of granting Prime Minister Netanyahu the platform to advance his government's deadly policies before Congress," she added, "U.S. leaders must cut off the supply of bombs that are being used to kill civilians, destroy infrastructure, and undermine any hope for peace."
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