A U.S. representative named to a panel overseeing a portion of the $2.2 trillion stimulus bill admitted she failed to disclose stock sales while in Congress, a violation of federal law.
Rep. Donna Shalala (D-Fla.), elected in 2019 after serving as the president of the Clinton Foundation, called what happened a "mistake."
Under the STOCK Act, members of Congress are required to report stock transactions. But Shalala made a number of sales last year and didn't report them.
"I apologize for them. It was my mistake. And I take full responsibility."
The lawmaker, who headed the Department of Health and Human Services under President Bill Clinton, said she knew about the STOCK Act, describing herself as a strong supporter of the law.
But a spokesman sounded a different tune, describing what happened as a "misunderstanding."
Shalala told CBS she notified the House Ethics Committee and would cooperate with an investigation if it commences one.
"I don't think so," she responded after being asked if her violation of the law disqualified her from serving on the panel.
"Rep. Shalala has taken responsibility for her mistake in missing filings required under the STOCK Act and has been working with the Ethics Committee to address this issue since she became aware of it,” he said.
"If Shalala remains on the Congressional Oversight Commission there will be ongoing investigations into the dealings of a leading investigator of the bailout. This is untenable and she must step down now so as to not undermine the Commission’s important work," David Segal, executive director of the fund, said in a statement.
Shalala faces a primary challenger, Jonathan Marc, while a number of candidates are vying for the Republican Party nomination for Florida's 27th Congressional District.