House Democrat faces questions over relationship with General Electric

Breitbart reported on Tuesday that a watchdog group is accusing a Democratic House member of having a conflict of interest regarding his ownership of General Electric (GE) stock. 

The Foundation for Accountability and Civic Trust (FACT) pointed to an Aug. 17 visit by Pennsylvania Rep. Matt Cartwright to a GE Research facility in Schenectady, New York.

Questions arise

According to Schenectady’s Daily Gazette, Cartwright touted the company’s work “in areas such as hybrid-electric aircraft propulsion and hydrogen-fueled engines.”

“There’s going to be a revolution in the way people get around in the air over the next 10 or 15 years and you’re going to see that revolution right here in Schenectady,” he added.

Cartwright supported Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, legislation to boost domestic semiconductor production.

Meanwhile, a financial disclosure form filed on August 15 shows that Cartwright holds $15,000 worth of stock in GE, something FACT says is cause for suspicion. What’s more, GE has donated to his campaign.

Kendra Arnold, who serves as FACT’s executive director, told Breitbart News, “Anytime a Member takes official action that could impact their personal finances, it raises conflict of interest concerns. Given his specific position in Congress and stock holdings, there are legitimate concerns.”

Profiting accusations

This is not the first time that FACT has raised concerns surrounding Cartwright, as in 2019 the group filed a complaint over his sponsorship of legislation that would increase the cost of mandatory liability coverage for commercial truckers by 600%.

FACT noted that Cartwright and his wife have profit-sharing agreements valued between $2 million and $10 million with a Pennsylvania law firm specializing in personal injury cases involving commercial trucks.

Meanwhile, the campaign of Cartwright’s Republican opponent, Jim Bognet, told Breitbart that Cartwright is one of the “most corrupt members of Congress.”

“It’s no secret that Matt Cartwright has a pattern of abusing his power,” Bognet campaign spokesperson Kate Constantini said.

“From introducing legislation that hurt trucking companies to put money in his families’ law firm’s pocket, to selling his office by filming commercials for a top donor in his actual Congressional office, Matt Cartwright has always put himself over his constituents,” Constantini complained.