A spokesperson for Wittman’s office said that Wittman does not personally direct his stock trades and that his investments are managed independently by a financial professional.
A Virginia member of Congress gearing up for a tough reelection fight reported this month his first stock trade since 2023.
According to a US House disclosure filing published July 10, US Rep. Rob Wittman (R-Va.) sold shares he held in a cell tower company called Crown Castle Inc. on June 30. The sale made Wittman between $1,001 to $15,000, according to the filing.
Wittman, a Republican who has represented Virginia’s 1st Congressional District since 2007, has not reported on a stock trade since Oct. 19, 2023, which was the same year it was reported that he ran afoul of the law by disclosing stock trades later than federal law required.
Crown Castle owns, operates, and leases about 40,000 cell towers across the US, according to the company’s website. The company’s stock price is down more than 20% over the last year and its headquarters are in Houston. Crown Castle did not respond to a request for comment.
In two financial disclosure reports filed last August and August 2024, Wittman reported earning up to $2,000 in unearned income in dividends from Crown Castle stock he owned.
In an email statement to Dogwood, a spokesperson for Wittman’s office said that Wittman does not personally direct his stock trades and that his investments are managed independently by a financial professional.
The spokesperson said that Wittman complies with financial disclosure requirements and that the Crown Castle transaction was disclosed in accordance with federal law, which requires members of Congress to report their stock trades within 30 days.
“He does not make legislative decisions based on his investments and supports reforms,” the spokesperson said.
Wittman’s spokesperson said that the Virginia congressman supports the Stop Insider Trading Act, although he is not one of three Virginia Republicans that have signed on as cosponsors. The legislation would prohibit members of Congress, their spouses, and dependent children from buying new stocks but would let them hold onto stocks they already own.
Critics of the Stop Insider Trading Act view it as weaker than another bill, the Restore Trust in Congress Act, that would ban members of Congress, their spouses, and dependent children from trading and owning individual stocks while in office.
According to Wittman’s spokesperson, he did not know about the Crown Castle sale until his financial advisor let him know that he was required to report it.
“Because he does not direct or approve individual investment decisions, he is not in a position to comment on the rationale for purchasing or selling any particular security,” Wittman’s spokesperson said.
Wittman’s race for reelection this fall is viewed as one of the more competitive ones in Virginia.
Democrats are fighting to retake control of the US House of Representatives and Republicans are looking to hold onto their slim majority.
There are seven Democrats vying for their party’s nomination to challenge Wittman.
Early voting in the primary is underway and the last day to vote is Aug. 4.
