Republican groups are calling for Democratic Senator Ron Wyden to step down as chairman of the Senate Finance Committee due to a conflict of interest regarding his wife’s stock holdings.
Nancy Wyden owns up to $3 million worth of stock in Apple, Microsoft, Amazon and Google – the very tech companies that the Finance Committee regulates.
While not illegal, ethics experts say it poses a conflict.
In response, the New York Young Republican Club sent Wyden a letter asking him to relinquish his chairmanship, arguing the financial ties through his wife undermine his ability to objectively oversee the companies.
They noted the companies have censored conservatives and Wyden helps determine if they face repercussions.
“As chairman of the Senate Finance Committee, you are charged with investigating and regulating Big Tech’s market abuses – and to protect American consumers from the risks posed by these companies on our economy and democracy,” the letter read.
“We are alarmed by reports of your wife’s exceptionally large stock holdings, totaling $3 million, in four of the Big Five technology companies that you are tasked with overseeing — Apple, Microsoft, Amazon, and Google,” it said.
“This clear conflict of interest is dangerous to the American people, and we demand that you immediately step down from the chairmanship of the Finance Committee.”
“As Chair of the Senate Finance Committee, you help determine whether these companies can continue their dangerous and socially destructive behavior, or whether they will be reined in,” the letter added.
“And Mrs. Wyden’s investments — and therefore your own financial ties to these companies via your wife — bring your commitment to the task into question,” it read.
Wyden has not indicated plans to step down and says he and his wife maintain separate finances, but the situation raises questions about his impartiality as chair.
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