by Micaela Burrow at Daily Caller News Foundation
- Members of Congress profited from selling defense company stocks, many after voting in favor of sending billions in weapons to Ukraine.
- While unforeseen demand has left top weapons makers scrambling to meet production targets, defense stocks are performing well overall, according to Investopedia.
- Several Republican lawmakers bought defense stocks but voted against Ukraine aid.
Members of Congress raked in profits from defense contractor stocks after voting to send billions in military aid to Ukraine, according to financial disclosures and voting records reviewed by the Daily Caller News Foundation.
The U.S. has delivered more than $20 billion worth of military aid to Ukraine between Jan. 24, a month before Russia invaded, and Nov. 20, according to data compiled by the Council on Foreign Relations, and Congress has approved billions more in spending on Ukraine. To make up for that aid, top defense companies have boosted production, and lawmakers trading on company stocks saw a financial windfall as a result, according to publicly available stock trading data.
Overall, Democratic Rep. Earl Blumenauer of Oregon netted the highest average returns on defense company stocks since 2021 at 40%, according to a chart published Tuesday by Unusual Whales, a site known for exposing how members of Congress profit from trading related to legislative issues. Rep. Marjorie Taylor Greene of Georgia, who has voted against Ukraine aid, was the top Republican at 35.5%. (RELATED: Congress Just Gave The Weapons Industry A Massive Paycheck. Here’s What That Means For US Defense)
While unforeseen demand has left top weapons makers,…
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