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Senate Finance Committee chair faces call to resign over wife's major stock holdings

"Conflicts of interest like this would pose ethical problems for any policymaker. But yours is especially problematic," the Republicans told Wyden.

Published: March 17, 2024 11:34pm

Updated: March 18, 2024 8:41am

Republicans are demanding Oregon Democratic Sen. Ron Wyden step down from his position as chairman of the Senate Finance Committee over his wife's major stock holdings.

"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," a group of national Republicans, led by New York Young Republican Club President Gavin Wax, wrote to Wyden in a letter obtained by Just the News on Thursday. 

Wyden's latest financial disclosure covers 2022, and it shows that his wife, Nancy Wyden, owns at least $1.5 million in the four major companies, but may have as much as $3 million in investments. She also made between $15,001 and $50,000 in dividends from Apple that year. 

Notably, Nancy Wyden may still have some involvement in all members of the Big Five. The financial disclosure shows she sold Meta holdings worth between $50,001 and $100,000, and it currently lists her holdings in the company as "None (or less than $1,001)."

The Senate Finance Committee has wide-ranging jurisdiction over numerous federal matters ranging from trade to taxation, and the Republicans pointed out how his wife's investments may pose a conflict of interest. 

"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. 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," they wrote. 

"Conflicts of interest like this would pose ethical problems for any policymaker. But yours is especially problematic, given that you personally wield enormous power over the economic fate of the very same companies these investments support." 

Nancy Wyden also has investments in tech companies outside of the Big Five. For example, she owns between $500,001 and $1 million in stock in NVIDIA, a global tech company.

In addition to Wax, the letter's signatories also include College Republicans of America President William Donahue, Republicans for National Renewal Executive Director Mark Ivanyo, National Constitutional Law Union Chairman John Pierce, Students for Trump Chairman Ryan Fournier and Italian American Civil Rights League President Paul Ingrassia.

Wyden's office did not immediately respond to Just the News' request for comment, but a spokesman previously told The New York Times: "Mr. Wyden and his wife keep separate finances." The filing deadline for Wyden's 2023 financial report is May 15.

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