Senator invested in defense stock days after encouraging increase in defense spending [CBS News]
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Source: CBS News
By Grace Segers 05M ago / CBS News Senate Armed Services Committee Chairman James Inhofe, R-Okla., rushed to divest himself from defense stocks after reports revealed that he invested over $50,000 in Raytheon stock just days after urging President Trump to dramatically increase defense spending. On Sunday, Mr. Trump told Defense Secretary Jim Mattis to submit a $750 billion budget proposal for the next fiscal year, a record number for defense spending, after meeting with Mattis, Inhofe and the chairman of the House Armed Services Committee. The president had previously said in October that he was willing to cut down on defense spending. The Daily Beast first reported that Inhofe's financial advisor invested between $50,000 and $100,000 in Raytheon, a defense contractor, on Tuesday. Inhofe's office said that he had requested his financial adviser to cancel the transaction, and told him to avoid defense-related purchases i
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