GOP senator: Burr owes everybody an explanation over stock sales

Sen. Thom Tillis (R-N.C.) on Wednesday said that he thinks Sen. Richard Burr (R-N.C.) should give an “explanation” for recent stock sales that sparked weeks of controversy and launched calls for an investigation.

Tillis, who is up for reelection in a crucial swing state, said he hadn’t talked to Burr about whether he would temporarily step down as chairman of the Senate Intelligence Committee, noting that it was a decision for Burr and Senate leadership.

“Regardless of what happens with the investigation, I think Senator Burr owes everybody in North Carolina and the United States an explanation, and we’ll see where the investigation goes,” Tillis told radio host Hugh Hewitt.

ProPublica reported last month that Burr sold between $628,000 and $1.72 million of stock a week before the market crashed, while at the same time reassuring the public about the coronavirus. 

Burr has denied wrongdoing and asked for the Senate Ethics Committee to investigate the stock sales while noting that he “relied solely on public news reports” to make his decision on the sales. 

“Understanding the assumption many could make in hindsight, however, I spoke this morning with the chairman of the Senate Ethics Committee and asked him to open a complete review of the matter with full transparency,” Burr said in a statement. 

CNN reported that the Justice Department, in conjunction with the Securities and Exchange Commission, is also probing stock sales by lawmakers and had contacted Burr. 

The comments from Tillis come as Republicans have largely sidestepped weighing in on the controversy or directly criticizing Burr. 

But Rep. Matt Gaetz (R-Fla.), who is a close ally of President Trump’s, said Burr is “screwing all Americans.” And White House economic adviser Larry Kudlow said that if senators took part in illicit trading “they will have to be significantly punished.”