The Foundry reports on a joint investigation by Scribe and the Washington Guardian:
Over the past four years as he repeatedly pressed for federal funding to stop smoking, [Iowa Democratic Senator Tom] Harkin has owned between $50,001 and $100,000 in stock in health products maker Johnson & Johnson, which makes the popular anti-smoking product Nicorette. Senate disclosure forms give ranges instead of exact amounts.When "the public interest" helps your pocketbook, this is rent-seeking gone wild. As you can guess, Harry Reid and Dick Durbin aren't going to promote cutting the cigarette tax: it would hurt their pocketbooks.
He’s hardly alone. A half-dozen senators who have been among the most vocal advocates for federal funding for smoking cessation — including Majority Leader Harry Reid, Nevada Democrat, and Majority Whip Richard J. Durbin of Illinois — have direct or indirect investments in companies that make anti-tobacco products.
