Democrats are already in the minority. They can’t afford to lose anyone else.
And that’s why Nancy Pelosi is panicking after this Democrat was caught breaking the law.
The National Republican Congressional Committee is taking aim at Rep. Marcy Kaptur (D-OH), sending her a thorough paper describing a rule that prohibits insider trading on the stock market, despite the fact that the Ohio Democrat voted in favor of the bill more than a decade ago.
On Wednesday afternoon, the NRCC delivered the document, titled “How To Not Violate The Law You Voted For,” to Kaptur’s office in Washington, D.C. According to the NRCC, Kaptur violated the STOCK Act earlier this year, as detailed in the two-page document.
“After spending 40 years in Congress hiding from constituents, it’s clear Marcy Kaptur cannot be trusted to meet even the most basic levels of transparency,” NRCC spokesman Chris Gustafson told the Washington Examiner.
“The NRCC is happy to provide Kaptur with this guide on how to be a lawmaker, not a lawbreaker, and remind voters that Kaptur’s time in office is coming to an end.”
According to filings, Kaptur sold $1,280 in Andersons stock in October but did not record the transaction until May 15, thus violating the STOCK Act’s 45-day deadline for disclosing periodic transaction reports.
Kaptur was fined $200 for the infraction.
The document, obtained exclusively by the Washington Examiner, specifies when the reports must be filed and provides step-by-step directions on how to do so. Throughout the letter, there are several tongue-in-cheek remarks.
“This memo introduces the reporting requirements for the STOCK Act (FYI, you voted for it),” the introduction reads.
“If you personally conduct a transaction, you need to report it on a PTR within 30 days of the transaction (NOT 205),” the memo later states.
“Even if you did not conduct or direct a transaction, you may still be required to report it (You are). Transactions must be reported within 30 days of being made aware of the transaction, but no later than 45 days from the date of transaction (Again, not 205).”
Kaptur’s staff defended her actions, stating that the representative has never acquired or traded equities personally.
Rather, her office stated that she received the stocks following the death of her brother in 2021, later transferring the proceeds to a certificate of deposit and saying she would not trade or sell them.
“In 2022, it became clear that as a result of redistricting Congresswoman Kaptur would represent the Ohio agribusiness whose stock she had inherited. To avoid even the appearance of any conflict with her official work, Congresswoman Kaptur promptly sold all of her shares in the stock — a total of $1,280.03,” a spokesperson for Kaptur said.
“Upon discovering the $1,280.03 transaction exceeded the reporting limit of $1,000, she filed the required report and a $200 fee for the delay in recognizing the oversight.”
The NRCC named Kaptur’s seat as one of its top objectives in the 2024 cycle, making the 21-term congressman one of the most vulnerable incumbents next year.
The nonpartisan Cook Political Report has rated Kaptur’s seat as “lean Democratic.”
Stay tuned to Prudent Politics.
