Washington (CNN) Republican Sen. James Inhofe of Oklahoma, the chairman of the powerful Senate Armed Services Committee, purchased thousands of dollars in defense stock after successfully pushing the Trump administration for more Defense Department spending. According to his Senate financial disclosure report, Inhofe listed a purchase of $50,000-$100,000 in stock in US defense contractor Raytheon. The Daily Beast was the first to report on the stock purchase. President Donald Trump recently agreed to a defense budget of $750 billion for the coming year, reversing his plans to shrink a $716 billion defense budget allocated in 2019 that he thought was too much money, calling it "crazy." Trump's decision came out of a meeting with Inhofe, along with Defense Secretary James Mattis and the chairman of the House Armed Services committee, Rep. Mac Thornberry, R-Texas.

Source: CNN December 13, 2018 03:31 UTC