(A)Political Newsletter - Volume 14

(A)political Newsletter - U.S. Political News & Election Updates

Good morning everyone,

We’re coming in a bit late, if you hadn’t noticed, so let’s jump right in today!

In today’s edition:

  • Stock Watching

  • Republican Speaker elections continue

  • Government invests 3.5B in infrastructure revitalization

  • The Supreme Court reviews several cases related to the Biden admin


  • The House Ethics Committee is in charge of investigating congressional trading.

    • The chairman of the House Ethics Committee, Representative Michael Guest, recently bought $PR right before it announced an acquisition. 

    • $PR has risen 22%. He has not decided to investigate himself.

  • Representative John Rutherford has disclosed over 150 stock trades past the reporting deadline set by the STOCK Act.

    • He bought Raytheon stock on the same day that Russia invaded Ukraine.

    • He sits on the House Committee on Ethics - the group in charge of enforcing the STOCK Act.

  • Senator Sheldon Whitehouse has disclosed purchases of stock in:

    • - The consumer health company Kenvue, $KVUE 

    • - The pharmaceutical company Novartis, $NVS 

    • - The pharmaceutical company Eli Lilly, $LLY 

    • Whitehouse sits on the Senate Finance Subcommittee on Health Care.

  • US Representative Michael Guest bought stock in Permian Resources, $PR, on August 9th.

    • On August 21st, Permian announced that it would be acquiring Earthstone Energy.

    • $PR has beaten the market by 24% since Guest's trade.

    • Guest in the Chairman of the House Ethics Committee

  • Senator Tommy Tuberville has disclosed a purchase of stock in Louisiana-Pacific Corporation, $LPX. 

    • $LPX is a manufacturer of lumber products.

    • Tuberville sits on the Senate Committee on Forestry.

  • Representative Josh Gottheimer has disclosed a September 26th purchase of Northrop Grumman stock, $NOC.

    • The defense contractor has risen over 13% since.

    • Gottheimer sits on the House Select Committee on Intelligence

  • Senator Markwayne Mullin and Rep. Kevin Hern have both disclosed purchases of Raytheon stock, $RTX.

    • Raytheon produces components for the Tamir intercepting missile used by Israel's Iron Dome.

    • Mullin sits on the armed services committee.

  • US Representative Kevin Hern just disclosed a September purchase of Raytheon stock, $RTX.

    • This is the first congressional purchase of Raytheon I have seen since June.

    • Raytheon produces components for the Tamir intercepting missile used by Israel's Iron Dome.

Be on the Lookout:

Since the beginning of the war in Israel, many members of congress have invested in defense stock. There has also been in an increase in the purchase of energy stock since the announcement of a new energy project meant to strengthen the nations grid. Rep. George Santos is still on the hot seat as he is now at 23 charges and has not been removed yet.

Jim Jordan Fails Speaker Election

(Photo - J. Scott Applewhite/Associated Press)

October 20, 2023: Rep. Jim Jordan (R-OH.) has been voted out as the Republican nominee for Speaker of the House, following shortly after his attempts to empower Acting Speaker Patrick McHenry (R-NC) by endorsing a vote that would keep him until January. The bill passing would have give Jordan enough time to accrue more votes on the House Floor. If all Democrats vote against Jordan as speaker, he could only afford 4 lost votes from Republicans, which he was unable to avoid.

Jordan's third attempt, held on Friday morning, showed he continued bleeding support, rising to 25 House Republicans voting against him, up from 22 on the second ballot. After his third attempt, his detractors continue to grow support, and as a result, his campaign became worse by the day, with no strategy to change detractors' votes, or to exit gracefully. Jordan was set to ask the Republican conference whether he should continue his race.

The race to replace Jordan continues in backrooms. Rep. Tom Emmer (R-MN), the number 3 Republican in the House, has been floated as a replacement. Other candidates include former House Speaker Kevin McCarthy (R-Cali), who was ousted but whose allies have tried to reinstall him to the position.

U.S. Government Providing 3.5B for Electrical Grid Upgrades

Energy Secretary Granholm. (Photo - Evelyn Hockstein/Reuters)

October 19, 2023: In the wake of several major natural disasters, the nation's electrical grid has shown its age. As part of the Biden administration’s latest spending package, several billion dollars has been set aside to establish more modern structures and revitalize existing infrastructure, with Energy Secretary Jennifer Granholm stating that “it is the largest federal investment ever in grid infrastructure”. The government’s investment is being joined by private investors as well, totaling around 8 billion for the project.

The improvements include strengthening existing systems while improving energy reliability and affordability. Some states like California and New York have seen electrical bills increase by up to 25%, due to recent issues in their grids. Other states like Texas have even experienced loss of life during snowstorms due to these grid failures. The hope is to improve the infrastructure nationwide, in not only a bid to avoid these failings, but also to protect from national security threats.

Secretary Granholm said, “the grid as it currently sits, is not equipped to handle all the new demand and withstand natural disasters and extreme weather worsened by climate change”. The focus of the new development is to put renewable energy stations across the country, primarily solar and wind.

Some of the improvements to energy storage will include new battery installations, fire-resistant electrical poles, transmission capacity on towers, and much more. The government is partnering with multiple private companies across the U.S. to plan and install these new systems.

The Supreme Court Aims at the Biden Admin

October 20, 2023: The Supreme Court is poised to make a consequential decision regarding the alleged violation of constitutional principles by the Biden administration. This legal showdown centers on allegations that the administration exerted pressure on tech companies to expunge content deemed false or misleading in relation to both the 2020 election and the Covid-19 pandemic.

In a recent development, the highest court in the land has consented to review the Biden administration's challenge against a prior court order that restrained it from advocating for the removal of specific content from social media platforms. The White House contended that this content disseminated misinformation pertaining to critical issues such as Covid-19 vaccinations, Hunter Biden's laptop, and the contested results of the 2020 election.

By accepting this case, the Supreme Court has, in tandem, suspended the injunction previously imposed by a lower court. This injunction, which was on the verge of taking effect, would have imposed restrictions on various forms of communication between federal officials and the prominent social media companies. The high court's intervention in this matter signifies that, for the time being, administration officials retain the liberty to engage with social media platforms while the judicial process unfolds.

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