personal-finances

New Bill Relative To Lobbyists and Candidates

Affordable Care Act

A bill recently introduced in Congress would require lobbyists to identify relatives who are senior government officials, and prohibit candidates and their committees from employing relatives.  

Rep. Jackie Speier, D-Calif., recently introduced H.R. 5011, that seeks to curtail the benefits involved with candidates who hire relatives and lobbyists who have lobbying contacts with their relatives who are government officials.  

Clawson Is Newest Millionaire In Congress

Rep. Curt Clawson

A millionaire, who self-financed most of his congressional campaign, was sworn in yesterday as the newest member of Congress.  

Supreme Court Justices' Wealth/Income Reports Online

The new personal financial wealth and income reports of the Justices of the U.S. Supreme Court  are now available online.  

The Ethics in Government Act requires annual personal financial wealth and income reports from top officials in all three branches of government. The goal is to prevent conflicts of interest and deter corruption and the appearance of corruption of public officials.  

Don Young Must Repay $59K for Improper Trips/Gifts

A U.S. Representative must repay $59,000 to those who provided improper gifts, as well as be reproved by the House Ethics Committee.  

The House Ethics Committee  released a report  on Rep. Don Young , R-Alaska, stating that in regard to fifteen trips and certain gifts, (1) Young violated House rules, and other laws and standards of conduct, (2) Young failed to report certain gifts, (3) Young must repay the $59,064 value of those trips and gifts, (4) Young must amend his personal financial disclosure report to show the gifts, and (5) Young should be reproved for his conduct with respect to his personal use of campaign funds, his acceptance of improper gifts, and his failure to report certain gifts.  

Records Show Connections to New Republican Leaders

The campaign finance records of the newly elected House Majority Leader and Majority Whip provide a wealth of data on who already has connections into the two new leaders.  

Rep. Kevin McCarthy , R-Calif., has raised over $12.5 million in campaign funds for his principal campaign committee since 2006. The $4.9 million in contributions from individuals is easily searchable by donor name, employer, state, or date, on McCarthy's multi-year financial profile  with a subscription  to Political MoneyLine's databases.  

Eric Cantor's Wealth Can Tide Him Over

Although Rep. Eric Cantor,  R-Va., will leave his current job in January 2015, he won't feel the pain of other unemployed people, since his family wealth will easily tide him over until his next job.  

According to his personal financial wealth statement filed in May, and covering 2013, Cantor's major family assets include: $1 million to $5 million in stock of Domino's Pizza Inc. as well as $250,001 to $500,000 in stock options.; $1 million to $5 million in a note receivable for real estate development in Richmond Resources Ltd.; $500,001 to $1 million in a note receivable for commercial real estate with Richmond Resources Hickory Park LLC; $500,001 to $1 million in deferred stock units of Media General Inc.; $250,001 to $500,000 of stock in Qualcomm Inc.; $250,001 to $500,000 in Water Tower Associates LLC; $250,001 to $500,000 in SK Holdco LLC, a collision repair company; $250,001 to $500,000 in Thirteen Capital Associates; $250,001 to $500,000 in Bank of America bank accounts; as well as many other investment holdings.  

Rep. Rob Andrews Gets Off Scot Free

A federal agency has closed its investigation of a U.S. Representative for using campaign funds and his leadership PAC funds for his family's trip to Scotland, and his daughters expenses to promote her business and her graduation party.  

The Federal Election Commission's (FEC) closure of Matter Under Review (MUR) #6511 against Rep. Robert Andrews , D-N.J., was disclosed in a letter  to the Citizens for Responsibility and Ethics in Washington (CREW), who had filed the original complaint.  

Conyers Starts Legal Expense Trust To Pay Legal Fees

Conyers

A Congressman, who had trouble getting on the primary election ballot, has set up a legal expense trust to solicit funds to pay his legal fees.  

Rep. John Conyers , D-Mich., has registered  his Conyers 13th District Legal Expense Trust with the Internal Revenue Service as a Section 527 political organization. The Trust is based in Washington, D.C. and was filed on May 30th by treasurer Amy Gilbert. The stated purpose is "To defray legal fees and other expenses..."  

Rep. Black Buys Comcast, Rep. Peters Sells APCO, Sen. Hoeven Buys Boeing

Even while Congress is legislating and providing oversight of the executive branch and government agencies, members of Congress are buying and selling stocks, according to new periodic disclosure reports of financial transactions required by the Stop Trading on Congressional Knowledge (Stock) Act.  

Rep. Diane Black, R-Tenn.,  the 14th richest member of Congress, reported her spouse bought $50,001 to $100,000 of Comcast Corporation on April 1st, and bought another $50,001 to $100,000 of Comcast on April 3rd. Black's spouse also bought $1,000,001 to $5 million of York Capital Management on March 31st. On April 3rd, he bought $100,001 to $250,000 of Unilever and the same amount of Zoeis Inc. on April 3rd.  

Personal Finances of President Obama and Vice President Biden Disclosed

President Obama and Vice President Biden filed their personal financial disclosure reports this week and the White House has made them public.  

The Ethics in Government Act requires the annual personal wealth and financial reports from persons in the top paying positions in the Executive, Legislative, and Judicial branches of government. Candidates for Congress are also required to file.