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 Senate Democratic leader Chuck Schumer and others made their
comments as congressional Republicans moved ahead with their
long-desired effort to dismantle President Barack Obama's Affordable
Care Act, and signaled the vehemence with which Democrats will fight
to protect the 2010 law.
Price is an orthopedic surgeon and a Republican congressman from
Georgia who, if confirmed by the Senate as Department of Health and
Human Services (HHS) secretary, would be given the task of carrying
out Trump's promise to gut the law that has enabled up to 20 million
previously uninsured Americans to obtain medical coverage.
The Democrats called on the independent Office of Congressional
Ethics (OCE), which examines misconduct allegations involving House
of Representatives members, to investigate Price's stock trades.
The Wall Street Journal last month reported that Price bought and
sold more than $300,000 in stock in about 40 healthcare,
pharmaceutical and biomedical companies over the past four years
while sponsoring and advocating legislation that could influence
those companies' shares.
"Every American should be shocked by this," Schumer told a news
conference.
"We don't know if he broke the law," Schumer said of Price. "But
there are certainly enough serious questions to warrant a serious
investigation before any hearing is held on Congressman Price to
become secretary of HHS."
Democratic Senator Patty Murray said lawmakers want to know what
nonpublic information Price may have had when the transactions at
issue were made.
Phil Blando, a Trump transition spokesman, called Schumer's demands
a "stunt" to deflect attention from Obamacare's "dismal record."
Price, asked by Reuters in a Capitol hallway for a reaction to
Schumer's comments, replied, "We're looking forward to a positive
and productive confirmation hearing."
A 2012 law prohibits members and employees of Congress from using
"any nonpublic information" stemming from the person's position or
gained while performing their job for personal benefit.
PUBLIC CITIZEN ALSO URGES PROBE
The nonpartisan watchdog group Public Citizen also asked the ethics
office, as well as the U.S. Securities and Exchange Commission, to
investigate Price and another Republican congressman, Chris Collins
of New York, for possible violations of insider trading and
conflict-of-interest laws and rules.
Public Citizen said that, while serving in the House, Collins also
sat on the board of directors of Australian biotech company Innate
Immunotherapeutics Ltd <IIL.AX> and was its largest shareholder,
with a 17 percent stake. It said Price also bought shares in the
company.
Collins serves as the Trump transition team's congressional liaison.
Collins spokesman Michael McAdams said in a statement the
congressman "has followed all ethical guidelines related to his
personal finances during his time in the House and will continue to
do so."
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House Republicans had moved on Monday to weaken the ethics office
but backtracked a day later after criticism from Democrats and
Trump.
Trump transition spokesman Blando said the ethics questions Schumer
raised about Price should be directed to three sitting Democratic
senators, Delaware's Tom Carper, Virginia's Mark Warner and Rhode
Island's Sheldon Whitehouse, "who own and have traded hundreds of
thousands of dollars in pharmaceutical and health insurance company
stocks."
"Hypocrisy is apparently alive and well this morning in Washington,"
Blando said.
A Warner spokeswoman said his investments were managed by an
independent trustee. A Whitehouse spokesman said the senator does
not direct his trading. A Carper spokeswoman said he has submitted
thorough financial disclosures and "always complied with every
requirement and regulation."
Republicans will control the White House and Congress once Trump
takes office on Jan. 20.
In a series of Twitter posts on Thursday, Trump blasted the
Democrats over Obamacare, taunting Schumer as "head clown."
"It is time for Republicans & Democrats to get together and come up
with a healthcare plan that really works - much less expensive & FAR
BETTER!" Trump wrote.
Republican House Speaker Paul Ryan said he expects the legislative
work on repealing and replacing Obamacare to be completed this year.
"What date all of this gets phased in on is something we do not now
know," Ryan added.
Ryan indicated that a Republican proposal to strip women's
healthcare organization Planned Parenthood of federal funding will
be included in the Obamacare repeal legislation. Planned Parenthood
draws the ire of many Republicans because it provides abortions, as
well as cancer screenings and other services.
Republicans criticize Obamacare, one of Obama's signature
accomplishments in his eight years in office, as an excessive
government intrusion into the healthcare market and contend it is
harming job growth by burdening businesses. Democrats said Obamacare
has extended insurance to millions of Americans and curbed abuses by
private insurers such as refusing to provide policies to people with
pre-existing medical conditions.
(Additional reporting by Richard Cowan and David Alexander; Writing
by Will Dunham; Editing by Jonathan Oatis)
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