Brisbane, whom Baldwin has been dating since 2018, works as a private wealth adviser with the Brisbane Group, which is a wealth management team under the Morgan Stanley umbrella. In her capacity in the role, she serves clients with "ultra high net worth," the website says.
JON TESTER CASTS DOUBT ON UNFAVORABLE POLL IN MONTANA SENATE RACE: 'GIVE ME A BREAK'
The Fix Washington PAC, which is promoting Hovde in the competitive Wisconsin Senate race, recently cut an ad about Brisbane and Baldwin, their shared residence and Brisbane's client list.
READ ON THE FOX NEWS APP
"They spend their time in New York and D.C. in their multimillion-dollar homes, but Baldwin fails to report their jointly owned assets or Maria's clients, who get rich off industries that Tammy regulates," the ad said. "That's a conflict of interest raising serious ethical questions to face Tammy Baldwin."
It's true that Baldwin does not disclose Brisbane's assets or client list in her own financial disclosures. However, she is not required to by the current rules.
TOP SENATORS BRIEFED ON 'MAJOR ERRORS' LEADING UP TO TRUMP ASSASSINATION ATTEMPT
Baldwin responded to the ad with one of her own, titled, "Complete lie."
"This ad is a complete lie," it said. "The truth is Tammy Baldwin's never shared inside information with her partner and Tammy Baldwin's leading the fight to ban senators from purchasing any individual stocks."
In a statement to Fox News Digital, Baldwin campaign spokesperson Andrew Mamo said, "Eric Hovde’s attempt to attack the woman Tammy Baldwin is dating is sad and desperate. Tammy works for the people of Wisconsin and only the people of Wisconsin. No matter how low Eric Hovde goes, voters will not forget about the massive conflict of interest presented by his continued ownership of his $3 billion California bank that receives deposits from unnamed foreign banks and governments."
DEMS RUN ON BORDER BILL REPUBLICANS SAY 'WAS NEVER DESIGNED TO SOLVE THE PROBLEM'
Her campaign also pointed out other senators who have been in dating relationships that did not disclose their partner's assets, such as Sens. Tim Scott, R-S.C., and Cory Booker, D-N.J.
Part of the charges by Hovde and his campaign about the supposed conflict of interest posed by Baldwin's partner and their status as unmarried, is Brisbane's previous role as manager of a biotechnology mutual fund, per a progress report from 2017 for the Cancer Research & Treatment Fund (CR&T).
Brisbane further listed on her firm's previous archived website under Merrill Private Wealth Management that she "manages custom-tailored equity portfolios that place emphasis on large-growth stocks – with an effort to enhance performance through small biotechnology and technology companies."
Because her clients are confidential, it's unknown who they are and what interests they may have.
TOP HANDICAPPER GIVES GOP'S TIM SHEEHY EDGE AGAINST DEMOCRAT JON TESTER IN MONTANA RACE SHIFT
Part of the concern put forward by Hovde is that Baldwin serves as chairwoman of the Appropriations Committee's Labor, Health and Human Services, Education, and Related Agencies subcommittee.
"Tammy regulates the biotech industry," an ad from his campaign said last week. "Maria advises clients in the biotech industry. If they were married, they would have to disclose their financial conflicts. But they aren't married, so they can share inside information to get rich. It's time to investigate Sen. Tammy Baldwin. She's in bed with Wall Street."
While Baldwin and Brisbane are not married, they purchased a residence in Washington, D.C., together and share it. Both of their names are on the property's deed. According to Baldwin's campaign, the two split the cost of the condominium and Brisbane paid for hers in cash while Baldwin took out a mortgage on her half.
The campaign also said Baldwin and Brisbane do not share bank accounts.
In a recent Marquette University Law School poll, Baldwin led Hovde 51% to 45% among registered voters in Wisconsin.
Top political handicapper, the Cook Political Report, rated the election as a slight advantage for Baldwin, labeling it "lean Democrat," alongside several other competitive Senate races.
Get the latest updates from the 2024 campaign trail, exclusive interviews and more at our Fox News Digital election hub.
Baldwin's Response: 'Complete Lie'
Baldwin has denied the claims of conflict of interest, calling the accusations "a complete lie." She has stated that she has never shared inside information with her partner and is actively working to ban senators from purchasing individual stocks. Her campaign has also pointed out that other senators have been in similar situations without disclosing their partner's assets.
Hovde's Counterarguments: Foreign Bank Ties
Hovde, however, has continued to press the issue, highlighting Brisbane's past role in managing a biotechnology mutual fund and her current work advising "ultra-high-net-worth" clients. He argues that the lack of disclosure creates a potential conflict of interest, especially given Baldwin's position on the Appropriations Committee's Labor, Health and Human Services, Education, and Related Agencies subcommittee, which oversees the biotech industry. Hovde has also criticized Baldwin for failing to report their jointly owned assets, focusing on their multimillion-dollar home in D.C.
Hovde's campaign has further attempted to deflect attention from the issue by highlighting Baldwin's failure to report their jointly owned assets and focusing on their multimillion-dollar home in D.C. In turn, Baldwin's campaign has countered by accusing Hovde of having a conflict of interest due to his ownership of a $3 billion California bank that receives deposits from unnamed foreign banks and governments.
The Public's Perspective: A Close Race
The accusations of a conflict of interest have generated considerable debate, with the public divided in their opinion. While Baldwin enjoys a slight advantage in recent polls, the race remains competitive, suggesting that voters are closely scrutinizing both candidates' positions and actions. The accusations are likely to continue to be a major issue in the upcoming weeks, as both campaigns seek to sway undecided voters.
Original article source: Tammy Baldwin faces conflict of interest concerns over partner's Wall Street gig
