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Sen. Burr Gives Up Intel Committee Chair As FBI Probe Intensifies

Reprinted with permission from ProPublica.

Sen. Richard Burr will be stepping aside as chairman of the Senate Intelligence Committee during the investigation into his stock trades, Senate Majority Leader Mitch McConnell announced Thursday.

“Senator Burr contacted me this morning to inform me of his decision," McConnell wrote in a statement. “We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow."

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Sen. Burr And Brother-in-Law Dumped Stocks On Same Day — Then Market Crashed

Reprinted with permission from ProPublica.

Sen. Richard Burr was not the only member of his family to sell off a significant portion of his stock holdings in February, ahead of the market crash spurred by coronavirus fears. On the same day Burr sold, his brother-in-law also dumped tens of thousands of dollars worth of shares. The market fell by more than 30 percent in the subsequent month.

Burr's brother-in-law, Gerald Fauth, who has a post on the National Mediation Board, sold between $97,000 and $280,000 worth of shares in six companies — including several that have been hit particularly hard in the market swoon and economic downturn.

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Sen.Burr Pushes Healthcare Industry Legislation While Trading Its Stocks

Reprinted with permission from ProPublica.

In his 15 years in the Senate, Richard Burr, a North Carolina Republican, has been one of the health care industry's staunchest friends.

Serving on the health care and finance committees, Burr advocated to end the tax on medical device makers, one of the industry's most-detested aspects of the 2010 Affordable Care Act. He pushed the Food and Drug Administration to speed up its approval process. As one of the most prominent Republican health care policy thinkers, he has sponsored or co-sponsored dozens of health-related bills, including a proposal to replace “Obamacare." He oversaw the implementation of major legislation to pump taxpayer money into private sector initiatives to address public health threats. “The industry feels very positive about Sen. Burr," the president of North Carolina's bioscience trade group said during Burr's last reelection campaign. “He's done a stellar job."

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Watchdogs Seek Probe Of Rep. Gaetz Over Dubious Lease Deal

A government watchdog group on Wednesday announced it had filed multiple complaints against Florida Republican Rep. Matt Gaetz, demanding an investigation into a lease agreement for congressional office space.

Politico reported last Friday that Gaetz rented office space in Florida for below market value from Collier Merrill — a Florida-based developer who Politico reported is a longtime friend and donor to Gaetz's campaign.

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