Apr 22, 2020 - Politics & Policy

Rep. Donna Shalala admits mistake in not reporting stock sales

Rep. Donna Shalala. Photo: Jacquelyn Martin-Pool/Getty Images

Rep. Donna Shalala (D-Fla.) told CBS Miami on Wednesday that she made a mistake by not reporting at least six stock sales she made after she was elected to the House in 2018.

Why it matters: The transactions were only revealed when House Speaker Nancy Pelosi appointed Shalala to a committee conducting oversight on the hundreds of billions of dollars being provided to companies through the coronavirus relief bill.

Catch up quick: After she was elected to Congress in November 2018, Shalala sold off stocks in companies like Boeing, Alaska Airlines, Chevron, Conoco, and AMC, the Miami Herald first reported.

  • Shalala said she did so to avoid potential conflicts of interest, but she did not disclose them within 45 days, as is required by the STOCK Act.
  • “It was my mistake and I take full responsibility,” Shalala told CBS Miami Wednesday. “I missed the deadlines. And I have to take responsibility, personal responsibility for doing that. No one else is responsible except for me.”

What to watch: Shalala said she doesn't believe the revelations will change her standing on the committee. She added that she contacted the House Ethics Committee and is open to an inquiry and whatever disciplinary action they deem necessary.

  • “Whatever they think is appropriate,” Shalala said. “Whether it’s a financial penalty or anything else. I’m really sorry I missed those deadlines in the process of trying to do the right thing.”

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