Ciattarelli super PAC begins ads hitting Sherrill on stock trades

A super PAC supporting Republican gubernatorial candidate Jack Ciattarelli is launching a seven-figure digital ad campaign today, alleging that the Democratic candidate for governor, Mikie Sherrill, profited through stock trades while serving in the U.S. House of Representatives.

The super PAC, Change New Jersey, has been rebranded; it was known as Kitchen Table Conservatives during the GOP primary.

In “More money for Mikie.  Less money for us,” the ad alleges that Sherrill traded defense stocks as a member of the Armed Services Committee and includes a short clip from her appearance on The Breakfast Club.

Script: (Narrator) Did you know Mikie Sherrill violated the federal law designed to stop Congress from insider trading? Mikie made millions.  (Charlamagne)  You made millions on the stock market, tripling your net worth while you were in Congress, and you were fined for unreported trades.  (Sherrill):  “It’s not as if I go sit on the House Armed Services Committee and suddenly, I’m trading Boeing or something.”  (Narrator) That’s a lie. The NY Times reported that Sherrill did actively trade defense stocks while sitting on the committee that oversees them – General Dynamics, Airbus, Honeywell, Raytheon. Worse? While Mikie made millions, she voted to cut the child tax credit in half and raise taxes seventeen hundred dollars for middle-class families.  More money for Mikie. Less money for us. Mikie Sherrill is wrong for Governor.

“Trenton is broken – and Mikie Sherrill is just more of the same. While Mikie Made Millions on the stock market, she voted to cut the child tax credit and raise taxes on New Jersey families. That’s why she’s painfully avoided unscripted interactions with voters and the press,” said Carlos Cruz, a spokesman for Change NJ. “After four years of Phil Murphy’s tax hikes, it’s time – for change.”

In December 2019, Sherrill opted to sell all of her individual stocks and convert her holdings to Exchange-traded funds (ETFs) that prevent any appearance of conflict.  Her husband, Jason Hedberg, is a stock trader at UBS Securities and was restricted from trading his own stocks even before his wife’s election to Congress.