WSJ: Elaine Chao holds shares in the company that she is committed to selling

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According to the report of the Review on Chao's Disclosure Forms and Related Documents, the Trump Representative retained her holdings in Vulcan Materials, assets that have earned more than $ 40,000 in the last year .

In an agreement on ethics concluded at the beginning of the Trump administration, Chao told the Office of Ethics Government that she would not "personally and substantially participate in any business for which I would know that I had a financial interest, "and said she would resign her. Vulcan Materials and hoped to receive a cash payment for its "Deferred Share Units Acquired" in 2018, the year following his departure from the company.
A financial reporting form with OGE de Chao dating back to 2018 again indicated that she would receive a cash payment from Vulcan Materials, but the Journal indicated that she had been compensated for her exit from the company in shares of the company and that it remained held instead of being cashed. outside.

A spokesman for the Ministry of Transport told CNN on Tuesday that "the ministry's ethics officers were working to clarify the term" cash payment "in the agreement so that it corresponded to that. that the company had actually done, "and claimed that Chao had followed his agreement to resign from the board of directors. Vulcan Materials and "not to participate in business with a direct and predictable impact" on the company.

A spokesman for Transport told the newspaper that the ethics agreement was flawed and that the ministry's ethics officer had decided that ownership of the shares by Chao was not a conflict of interest. The ministry spokesman who spoke to CNN said that the agency's ethics officer had determined that holding the shares did not present a conflict of interest and that Chao would continue to be excluded from the proceedings. "Vulcan business" while holding the shares.

The Journal also quoted former OGE group leader Walter Shaub as saying that it was probably not a conflict of legal interests. Shaub, however, also told the newspaper: "In order for the DOT manager to have a financial interest in an asphalt production business, that does not send a message to DOT employees stating that". it makes ethics a priority ".

Chao is married to Senate Majority Leader Mitch McConnell, whose Journal also discussed the financial statements.

Ellie Kaufman of CNN contributed to this report.

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