Josh Gottheimer
Josh Gottheimer (D-NJ) sold $1M-$5M of $MSFT (Microsoft Corporation - Common Stock (MSFT)) on Dec 20, 2024, part of 55 transactions in this filing (16 buys, 39 sells).
HillSignal flagged 5 timing concerns on this filing — trades that line up closely with related legislative or contract activity.
Companies in this filing · 37
Price Movement Since Trade
How the largest positions have moved from the trade date to the most recent close.
Showing the 6 largest positions. See every transaction in the table below.
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See the full trade breakdown, suspicious timing flags, and how this filing connects to active legislation.
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5 flagsRep. Gottheimer sold $1M-$5M in $MSFT on Dec 20, 2024 — 47 days before the No Tax Breaks for Outsourcing Act (S409) was introduced, a bill that would raise taxes on multinationals like Microsoft.
Rep. Gottheimer bought $1M-$5M in $MSFT on Dec 20, 2024 — 48 days before the Growing and Preserving Innovation in America Act (HR1062) was introduced, a bill that would permanently lock in tax benefits for multinationals like Microsoft.
Rep. Gottheimer bought $1M-$5M in $MSFT on Dec 20, 2024 — 80 days before the American Innovation and R&D Competitiveness Act (HR1990) was introduced, a bill that would restore R&D expensing, directly benefiting Microsoft.
These flags identify timing coincidences between stock trades and legislative activity. They do not imply wrongdoing. Click any bill number or ticker to see the full analysis.
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All Transactions
| Type | Ticker | Asset | Amount | Trade Price | Current | Change | Date |
|---|---|---|---|---|---|---|---|
| BUY | $MSFT | Microsoft Corporation - Common Stock (MSFT)(Stock Option) | $1M-$5M | $436.60 | $407.32 | -6.7% | Dec 20, 2024 |
| BUY | $MSFT | Microsoft Corporation - Common Stock (MSFT)(Stock Option) | $1M-$5M | $436.60 | $407.32 | -6.7% | Dec 20, 2024 |
| BUY | $MSFT | Microsoft Corporation - Common Stock (MSFT)(Stock Option) | $1M-$5M | $436.60 | $407.32 | -6.7% | Dec 20, 2024 |
| BUY | $MSFT | Microsoft Corporation - Common Stock (MSFT)(Stock Option) | $1M-$5M | $436.60 | $407.32 | -6.7% | Dec 20, 2024 |
| BUY | $AAPL | Apple Inc. - Common Stock (AAPL) | $1K-$15K | $249.79 | $272.98 | +9.3% | Dec 19, 2024 |
| BUY | $SQ | Block, Inc. Class A Common Stock, (SQ) | $1K-$15K | $87.48 | $57.22 | -34.6% | Dec 30, 2024 |
| BUY | $CDRE | Cadre Holdings, Inc. Common Stock (CDRE) | $1K-$15K | — | — | — | Dec 6, 2024 |
| BUY | $GS | Goldman Sachs Group, Inc. (GS) | $1K-$15K | $573.55 | $925.37 | +61.3% | Dec 30, 2024 |
| BUY | $JNJ | Johnson & Johnson Common Stock (JNJ) | $1K-$15K | $146.24 | $229.32 | +56.8% | Dec 12, 2024 |
| BUY | $CRM | Salesforce, Inc. Common Stock (CRM) | $1K-$15K | — | — | — | Dec 13, 2024 |
Connected Legislative Activity
10 signalsThese bills and contracts share tickers or sectors with this filing's trades.
To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
HR 516 proposes a 74% increase in the railroad track maintenance tax credit from $3,500 to $6,100 per mile, directly benefiting Class I railroads CSX, Union Pacific, and Norfolk Southern via assigned miles from short-line partners. The bill has 164 cosponsors and a Senate companion (S1532), indicating strong bipartisan momentum. All three Class I railroads have gained 9-10% in the last 30 days, with current prices near their 52-week highs.
Chief Risk Officer Enforcement and Accountability Act
HR1910 (Chief Risk Officer Enforcement and Accountability Act) is an early-stage bill that codifies existing Fed CRO regulations for large banks, with the structural change of extending requirements to privately held large banks. Publicly traded mega-banks (JPM, BAC, WFC, C, MS, GS) already comply — no new costs. The bill creates incremental demand for compliance consulting and software vendors like ACN, IBM, and ORCL but is in early committee stage with low passage probability.
MIRACLE Medical Technology Act of 2025
The MIRACLE Medical Technology Act of 2025 (HR661) is an early-stage House bill authorizing HHS to establish a U.S.-Israel healthcare product development collaboration program. It has no funding allocation, was referred to committee in January 2025, and has seen no further action. Market impact is negligible at this stage; any benefit to med-tech companies or CROs requires a future appropriations bill and a long legislative path.
No Tax Breaks for Outsourcing Act
The No Tax Breaks for Outsourcing Act (S409) would eliminate tax deferral on foreign profits for U.S. multinationals, increasing effective tax rates by 5-8 percentage points. The bill is in early stages (referred to Senate Finance Committee, 19 cosponsors) and poses a 4-8% annual net income headwind for high international-exposure companies. Despite 8-30% rallies in the last 30 days across MSFT, AAPL, GOOGL, KO, PG, XOM, and CVX, this legislative risk is not currently priced into valuations.
American Innovation and R&D Competitiveness Act of 2025
HR1990, the American Innovation and R&D Competitiveness Act, would restore immediate expensing for R&D costs, reversing the 2022 tax code change that required 5/15-year amortization. This is an early-stage bill referred to Ways and Means with 81 cosponsors, but if enacted, it would provide a direct 21% tax-rate cash flow benefit annually to every R&D-intensive US company. The largest absolute beneficiaries are mega-cap tech and pharma firms with $10B+ annual R&D budgets.
To amend title XI of the Social Security Act to equalize the negotiation period between small-molecule and biologic candidates under the Drug Price Negotiation Program.
HR1492 retroactively extends the Medicare price negotiation safe harbor for small-molecule drugs from 7 to 11 years, matching biologics. This shields billions in revenue for major pharma companies, particularly pure-play small-molecule firms like Vertex and large players with top-selling Part D drugs like Pfizer, Bristol-Myers Squibb, and Gilead. The bill is early-stage with 67 cosponsors and a Republican sponsor, giving it moderate momentum.
Guaranteeing Overtime for Truckers Act
The Guaranteeing Overtime for Truckers Act (HR1962) is an early-stage bill removing the FLSA overtime exemption for truck drivers. If passed, trucking labor costs rise 10-25%, compressing margins at carriers like JBHT, KNX, ODFL, and XPO, with downstream margin pressure on retailers WMT and TGT as rates are passed through. Current stock prices near 52-week highs are disconnected from this legislative risk.
Defending Domestic Orange Juice Production Act of 2025
HR933 proposes reducing the FDA standard for orange juice soluble solids from 10.5% to 10.0%, a direct regulatory cost savings for major OJ producers. The bill is early-stage but has strong bipartisan Florida delegation support with 25 cosponsors. $KO, $PEP, and $KDP are the primary beneficiaries, with recent price trends showing a broad market recovery rather than bill-specific movement.
Growing and Preserving Innovation in America Act of 2025
HR1062 permanently locks in higher FDII and GILTI deductions for US multinationals, preventing a ~3.3 ppt effective tax rate increase on foreign IP income scheduled for 2026. This directly boosts after-tax net income for companies with large international revenue streams, including MSFT, AAPL, GOOGL, AMZN, NVDA, JNJ, PFE, KO, and PG. The bill is in early committee stage — structural impact is contingent on passage through the 119th Congress.
Repeal Community Development Block Grants Act of 2025
HR1133 is an early-stage bill to eliminate the Community Development Block Grant program. Passage probability is very low given single sponsorship and no committee action since referral. Bearish for homebuilders reliant on subsidized infrastructure, but near-term market impact is negligible.
Other Filings by Josh Gottheimer
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Data sourced from the U.S. House of Representatives Office of the Clerk Financial Disclosure system. Stock prices from Financial Modeling Prep. Suspicious timing flags identify coincidences between stock trades and legislative activity and do not imply any wrongdoing or illegal activity. This is not financial advice.