The Congressional investigation remains ongoing into a 2020 purchase of Cleveland-Cliffs stock by Rep. Mike Kelly's wife the day after Kelly learned the U.S. Department of Commerce planned to initiate a review of imports of electrical steel.

In a Jan. 2 report to Congress, the House Committee on Ethics said it had not completed its investigation as of the conclusion of the 117th Congress, which ended Jan. 3. The report, the most recent information available, references a 2021 report from the Office of Congressional Ethics, an independent, nonpartisan entity charged with receiving and reviewing allegations of misconduct concerning House members and staff.

The Jan. 2 report says: “On July 23, 2021, the OCE forwarded to the Committee a Report and Findings in which it recommended further review of allegations that Representative Mike Kelly’s wife may have purchased stock based on confidential or material nonpublic information that Representative Kelly had learned during his official job duties. The Committee released the OCE Report and Findings, along with Representative Kelly’s response, on Oct. 21, 2021, and noted in a public statement that the Committee was continuing to review the allegations pursuant to Committee Rule 18(a). At the conclusion of the 117th Congress, the Committee had not completed its investigation into this matter.”

Citing the ongoing investigation, Kelly declined to comment.

According to the Office of Congressional Ethics report, Kelly's wife, Victoria, purchased between $15,001 and $50,000 in Cleveland-Cliffs stock on April 29, 2020, the day after Kelly learned the U.S. Department of Commerce planned to initiate a review of imports of electrical steel, and that Cleveland-Cliffs would not close its electrical steel business and lay off employees. Electrical steel is the primary product of AK Steel, which Cleveland-Cliffs purchased in 2019.

In May 2020, Kelly reported the stock purchase by filing a periodic transaction report.

Kelly's wife sold her stock in January 2021 for a profit, according to the report. She had purchased the stock at $4.70 per share and sold it at $18.11 per share.

During the investigation, a Kelly staff member told the Office of Congressional Ethics that Kelly’s wife is wealthy independent of Kelly, and she owns properties and makes investments on her own.

In response to news media inquiries about the investigation, Kelly's office issued a statement in September 2020 saying: “At a time when the entire Butler community is rallying to save the AK Steel plant and its 1,400 jobs, Representative Kelly’s wife made a small investment to show her support for the workers and management of this 100-year old bedrock of their hometown, where they both are lifelong residents.”