[{"innerBlocks":[],"name":"core\/freeform","postId":3748,"blockType":{"name":"core\/freeform","keywords":[],"attributes":{"content":{"type":"string","source":"raw"},"lock":{"type":"object"}},"providesContext":[],"usesContext":[],"selectors":[],"supports":{"className":false,"customClassName":false,"reusable":false},"styles":[],"variations":[],"apiVersion":3,"title":"Classic","description":"Use the classic WordPress editor.","category":"text"},"originalContent":"(Bloomberg) \u2014 Democrats began a key hearing on President Donald Trump\u2019s pick to overhaul Obamacare by attacking his aggressive investing in healthcare companies, an attempt to derail the nomination by hammering on ethics even though Republicans can force a confirmation with a party-line vote.

Senator Ron Wyden, the top Democrat on the Finance Committee, slammed Georgia Representative Tom Price\u2019s \u201cabuse of his position\u201d by buying privately offered shares in Innate Immunotherapeutics Ltd. as Congress weighed bills that could affect his investments. Democrats need to persuade Republicans on the panel to oppose Price in order to block his appointment as secretary of the Department of Health and Human Services; so far they have defended Price, and none have indicated they\u2019d vote him down.

tom-price-2<\/bsp-image>The Democratic tactic is part of a broad strategy of focusing on Republicans\u2019 business practices. Trump, a real estate investor who has refused to release his tax returns and faces accusations of conflicts of interest, has said he would \u201cdrain the swamp\u201d of a Washington enmeshed in self-dealing. However, his appointees, many drawn from the world of finance and richer by far than most government officials, have provided rich targets for Democrats who say he is quickly refilling it.

Price, a doctor who helped found an orthopedic surgery practice in Georgia, on Tuesday told the committee that will vote on sending his nomination to the full chamber that he had acted blamelessly.

\u201cEverything I did was ethical, above board, legal and transparent,\u201d Price said, in response to a question from Wyden, of Oregon. He blamed a \u201cclerical error\u201d for disclosing a stake in Innate that was far smaller than his actual holdings.

Buy order<\/b>
Lawmakers zeroed in on his investment in Innate in a hearing last week as well. The Australian company is testing a drug that could be used to help treat multiple sclerosis. Unlike his other trades, which were handled by a financial broker, Price said he personally made the decision to invest in the drugmaker.

At the same time that Price invested in Innate Immuno, negotiations were under way for a bill called the 21st Century Cures Act that would help speed drug approvals, which Price voted in favor of during its 2016 passage into law. Price said last week that he learned of the drugmaker from Rep. Chris Collins, a New York Republican who sits on the board of the company, but wasn\u2019t privy to non-public information before purchasing the stock.

Democrats also asked last week about other investments, which were done through the nominee\u2019s financial adviser, Morgan Stanley. They included stock in medical device manufacturer Zimmer Biomet Holdings Inc., bought last year just before Price introduced legislation that would have benefited companies that make hip and knee replacements. While Price introduced the legislation a few days after the purchase, he didn\u2019t learn of the stock purchase until the following month, according to a fact sheet from Trump\u2019s transition team.

On Tuesday, Wyden also questioned Price on his plans for the Affordable Care Act. Since the first hearing, Trump has issued an executive order<\/a> on repealing the health-care law, commanding federal agencies to waive or delay requirements of Obamacare that impose economic or regulatory burdens on states, families and the health-care industry. Trump hasn\u2019t indicated how he envisions the order being implemented.
Obamacare, passed in 2010, expanded coverage to 20 million people in the U.S. Newly empowered Republicans, despite years of votes to end the former president\u2019s signature policy measure, haven\u2019t coalesced around a course of action to change it.

President\u2019s promise<\/b>
Trump has promised \u201cinsurance for everybody,\u201d but Price refused to say Tuesday whether the president\u2019s plans would lead to individuals losing coverage. He said he\u2019d commit to \u201cmaking certain that every single American has access to affordable health coverage.\u201d

When Wyden noted a final time that Price wouldn\u2019t say whether anyone would lose coverage, Senate Finance Committee Chairman Orrin Hatch chuckled, asking, \u201cWell, how can anybody commit to that?\u201d

Vice President Mike Pence met Monday evening with House Speaker Paul Ryan, a Republican from Wisconsin, and other party leaders to discuss Obamacare.

\u201cThe president is committed to repeal and replace Obamacare simultaneously and we\u2019re working out the details,\u201d Pence told reporters.

Asked about the timing of legislation, he answered, \u201csoon.\u201d

At the hearing, Senator Sherrod Brown, an Ohio Democrat, asked Price whether it\u2019s true that he is helping Trump develop a plan to repeal and replace the law.

\u201cIt\u2019s true that he said that,\u201d Price replied, to laughter. Asked to expand, he would say only, \u201cI\u2019ve had conversations with the president about health care.\u201d

Brown said, \u201cI\u2019m still not sure if the president lied, not to you but us, about whether he\u2019s actually working with you.\u201d
","saveContent":"(Bloomberg) \u2014 Democrats began a key hearing on President Donald Trump\u2019s pick to overhaul Obamacare by attacking his aggressive investing in healthcare companies, an attempt to derail the nomination by hammering on ethics even though Republicans can force a confirmation with a party-line vote.

Senator Ron Wyden, the top Democrat on the Finance Committee, slammed Georgia Representative Tom Price\u2019s \u201cabuse of his position\u201d by buying privately offered shares in Innate Immunotherapeutics Ltd. as Congress weighed bills that could affect his investments. Democrats need to persuade Republicans on the panel to oppose Price in order to block his appointment as secretary of the Department of Health and Human Services; so far they have defended Price, and none have indicated they\u2019d vote him down.

tom-price-2<\/bsp-image>The Democratic tactic is part of a broad strategy of focusing on Republicans\u2019 business practices. Trump, a real estate investor who has refused to release his tax returns and faces accusations of conflicts of interest, has said he would \u201cdrain the swamp\u201d of a Washington enmeshed in self-dealing. However, his appointees, many drawn from the world of finance and richer by far than most government officials, have provided rich targets for Democrats who say he is quickly refilling it.

Price, a doctor who helped found an orthopedic surgery practice in Georgia, on Tuesday told the committee that will vote on sending his nomination to the full chamber that he had acted blamelessly.

\u201cEverything I did was ethical, above board, legal and transparent,\u201d Price said, in response to a question from Wyden, of Oregon. He blamed a \u201cclerical error\u201d for disclosing a stake in Innate that was far smaller than his actual holdings.

Buy order<\/b>
Lawmakers zeroed in on his investment in Innate in a hearing last week as well. The Australian company is testing a drug that could be used to help treat multiple sclerosis. Unlike his other trades, which were handled by a financial broker, Price said he personally made the decision to invest in the drugmaker.

At the same time that Price invested in Innate Immuno, negotiations were under way for a bill called the 21st Century Cures Act that would help speed drug approvals, which Price voted in favor of during its 2016 passage into law. Price said last week that he learned of the drugmaker from Rep. Chris Collins, a New York Republican who sits on the board of the company, but wasn\u2019t privy to non-public information before purchasing the stock.

Democrats also asked last week about other investments, which were done through the nominee\u2019s financial adviser, Morgan Stanley. They included stock in medical device manufacturer Zimmer Biomet Holdings Inc., bought last year just before Price introduced legislation that would have benefited companies that make hip and knee replacements. While Price introduced the legislation a few days after the purchase, he didn\u2019t learn of the stock purchase until the following month, according to a fact sheet from Trump\u2019s transition team.

On Tuesday, Wyden also questioned Price on his plans for the Affordable Care Act. Since the first hearing, Trump has issued an executive order<\/a> on repealing the health-care law, commanding federal agencies to waive or delay requirements of Obamacare that impose economic or regulatory burdens on states, families and the health-care industry. Trump hasn\u2019t indicated how he envisions the order being implemented.
Obamacare, passed in 2010, expanded coverage to 20 million people in the U.S. Newly empowered Republicans, despite years of votes to end the former president\u2019s signature policy measure, haven\u2019t coalesced around a course of action to change it.

President\u2019s promise<\/b>
Trump has promised \u201cinsurance for everybody,\u201d but Price refused to say Tuesday whether the president\u2019s plans would lead to individuals losing coverage. He said he\u2019d commit to \u201cmaking certain that every single American has access to affordable health coverage.\u201d

When Wyden noted a final time that Price wouldn\u2019t say whether anyone would lose coverage, Senate Finance Committee Chairman Orrin Hatch chuckled, asking, \u201cWell, how can anybody commit to that?\u201d

Vice President Mike Pence met Monday evening with House Speaker Paul Ryan, a Republican from Wisconsin, and other party leaders to discuss Obamacare.

\u201cThe president is committed to repeal and replace Obamacare simultaneously and we\u2019re working out the details,\u201d Pence told reporters.

Asked about the timing of legislation, he answered, \u201csoon.\u201d

At the hearing, Senator Sherrod Brown, an Ohio Democrat, asked Price whether it\u2019s true that he is helping Trump develop a plan to repeal and replace the law.

\u201cIt\u2019s true that he said that,\u201d Price replied, to laughter. Asked to expand, he would say only, \u201cI\u2019ve had conversations with the president about health care.\u201d

Brown said, \u201cI\u2019m still not sure if the president lied, not to you but us, about whether he\u2019s actually working with you.\u201d
","order":0,"get_parent":{},"attributes":[],"attributesType":{"content":{"type":"string","source":"raw"},"lock":{"type":"object"}},"dynamicContent":""}]

Trump’s health pick Price grilled on healthcare investments

More for you