President Joe Biden’s $2 trillion infrastructure plan includes a provision to boost electric vehicle use—which House speaker Nancy Pelosi (D., Calif.) stands to personally benefit from.
Pelosi’s husband Paul purchased between $500,000 and $1 million in Tesla investments in December. Biden’s infrastructure plan will lead to a windfall for Tesla and its shareholders. On Wednesday, Biden unveiled his sweeping plan, which sets aside $174 billion for electric vehicle subsidies, charging stations, and other provisions designed to push more Americans into electric cars over a decade.
Democrats are anticipating a contentious and lengthy battle over the infrastructure package. With a narrow Democratic majority and no support from Republicans, Pelosi will need to marshal every vote she can to get the bill passed. It will fall on the speaker to unify progressives who worry the bill is inadequate and with moderate Democrats who worry the bill’s tax hikes could imperil their reelection chances.