Sen. Elizabeth Warren (D-Mass.) pushed Price on his deflection of responsibility to the broker, saying that his stock ownership was not held in an index fund, passively managed or actively managed mutual fund, or blind trust.
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Price, the orthopedic surgeon nominated to serve as Health and Human Services secretary, was granted a “courtesy hearing” by the panel to discuss the health aspects of the position to which he’s been named. “It may be that this trade was illegal”, Schumer said on the Senate floor on Tuesday afternoon.
Price, who represents numerous metro Atlanta suburban cities in his 6th congressional district, has been a constant critic of the Affordable Care Act, and would lead its repeal and replacement in Trump’s administration.
The US is the only major, developed country on earth that does not guarantee its citizens health care. “Everything that we have done”, Price said, “has been above board, transparent and legal”. Trump’s departure from the party line on health care often put his nominee in a tough spot during the hearing, as he was asked to commit to the president elect’s more liberal promises. The president-elect will be inaugurated Friday.
Senator Chuck Schumer, who leads the Democratic minority in the Senate, called for the Office of Congressional Ethics to investigate whether Dr Price had violated the 2012 Stock Act, a law created to combat insider trading by United States congressman. He insisted he cares about quality health care for all Americans and “hopes” they can work together to solve these challenges. His spokesman said Price had been working on the bill for months.
Price, 62, represents Atlanta’s northern suburbs and leads the House Budget Committee.
Price replied that he believes “we’re a compassionate society”.
Democrats, though, said the GOP’s plans are likely to curb financial assistance for needy Americans, while hurting women who rely on Planned Parenthood for preventive health services such as contraception. “Meanwhile, you voted against landmark legislation in 2009 that gave the FDA the authority to regulate tobacco”, Mr Franken said.
The mild-mannered Price largely kept his cool throughout some testy questions from Democrats, aside from admonishing Warren for implying he took actions to boost this stock portfolio. Rep. Tom Price (R-Ga.) faced pointed questioning from Elizabeth Warren during a Senate hearing Wednesday morning, as the MA senator tried to get a simple yes or no answer on whether the Trump administration still meant to uphold that promise.
On Wednesday, Georgia Congressman and former physician Tom Price, President-elect Donald Trump’s choice to oversee the Department of Health and Human Services (HHS), faced tough questions from a panel of Senators on his significant stock purchases in health care and biopharma companies, his thoughts on a post-Obamacare world, and whether or not he agrees with Trump’s proposed method of keeping drug prices in check.
Earlier on Tuesday, Senate minority leader Chuck Schumer noted that Price introduced legislation in Congress in March 2016 about medical devices that benefited a company he purchased stock in the week before. Plus, the trades have been disclosed.
The top Democrat at the hearing, Sen. Patty Murray of Washington, accused him of getting a sweetheart deal on stock at a company that combats multiple sclerosis.
Price acknowledged purchasing shares in an Australian firm, Innate Immunotherapeutics Inc, which makes experimental drugs, after learning about the company from a fellow GOP member of Congress, Chris Collins of NY.
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“Nobody’s interested in pulling the rug out from anyone”.
