Back in early 2022, Congresswoman Marie Newman and her husband announced to cease the practice of trading individual stocks, as per her campaign. This decision came after the couple engaged in stock trading activities amounting to nearly $5.8 million in 2021, ranking Newman ninth among all members of Congress. Furthermore, the move to cease trading coincided with Newman's support for legislation that aimed to ban such practices among lawmakers.
Newman's campaign clarified that her husband had gradually liquidated their stock accounts, and they reached a point where they would no longer make additions or subtractions to their holdings. The decision to halt trading aligned with the legislative priority that Newman had endorsed. The campaign emphasized that the family's trading activities did not influence her public conduct.
While Newman's stock trades involved companies with significant matters before Congress, there was no direct evidence to suggest a conflict of interest or improper conduct on her part. The traded stocks included Pfizer (PFE:US), Moderna (MRNA:US), and Johnson & Johnson (JNJ:US), which are pharmaceutical firms that produced COVID-19 vaccines purchased by the government.
Additionally, the couple invested in electric vehicle manufacturers and airlines, which were beneficiaries of infrastructure-related legislation. Newman served on the House Transportation Committee, which considered legislation relevant to these industries.
In response to questions regarding these trades, Newman's campaign highlighted the contributions made by pharmaceutical and energy companies to her primary opponent, Sean Casten, since 2020. The campaign suggested that examining the financial ties of all candidates was important.
Newman was facing a separate investigation back in 2022 by the House Ethics Committee regarding allegations of offering a staff position to discourage a political rival from running against her. However, she maintained her innocence.