President-elect Trump’s nominee to head the Department of Health and Human Services, Rep. Tom Price, pledged to sell his stocks if he is confirmed, in an effort to head off Democratic criticism of his stock trades.
The Georgia Republican is set to come before the Senate Health, Education, Labor and Pensions Committee on Wednesday for his confirmation hearing.
Democrats have called for an investigation into Price’s trading of health company stocks before any confirmation hearing occurs.
In an effort to head off those attacks, Price wrote a letter to HHS’ ethics official for HHS on potential conflicts.
Price said after he is confirmed he would resign as managing partner at Chattahoochee Associates, a Georgia surgery group.
He also would divest his stocks in roughly 40 companies that include major businesses such as Amazon and Apple.
Price also owns stocks in pharmaceutical giants Pfizer and Bristol Myers Squibb in addition to smaller companies such as Jazz Pharmaceuticals and Innate Immunotherapeutics.
The transition team added that the Office of Government Ethics has completed an “exhaustive review” of Price’s financial holdings and that he was “compliant with congressional disclosure rules.”
He agreed to fully comply with recommendations from the ethics office.
“Given this agreement, we expect the Senate to move expeditiously with consideration of Dr. Price’s nomination,” said Phil Blando, Trump transition spokesman.
