Susan Rice, an adviser to President Biden, was ordered to sell a $2.7 million stake in a Canadian energy firm.
The U.S. Office of Government Ethics instructed Rice after the administration permitted a project by the company, Enbridge. The ethics office issued certificates of divestiture to Rice and members of her family, including her husband, with similar stakes. Rice is instructed to “follow Internal Revenue Service requirements for reporting dispositions of property and making an election not to recognize gain under section 1043.”
The Daily Poster first reported on the matter after obtaining the government documents, “… the company’s stock price has skyrocketed. That has created a potential financial jackpot for Rice, who as Domestic Policy Council chief will now be able to delay capital gains taxes on any windfall made off her sale of thousands of shares of Enbridge.”
Pipeline project Line 3 will transport Canadian oil through Minnesota to Wisconsin. Biden has allowed this project, despite canceling previous pipeline projects, such as Keystone XL, which killed thousands of American jobs. Enbridge’s Line 3 is especially controversial, as it travels through indigenous lands and supports Trump-era policies.