Doggett Amends Disclosure to Show $200K in Profits

Posted November 4, 2009 at 11:09am

Rep. Lloyd Doggett (D-Texas) on Monday amended his financial disclosure forms going back eight years to reflect more than $200,000 in profits from stock sales and other transactions that he had previously failed to report.

In a letter to the Clerk of the House, Doggett — who ranks 35th in Roll Call’s list of the 50 richest Members of Congress, with a minimum net worth of $7.14 million — explained that he properly reported the sales of his assets as transactions, but failed to report the capital gains those transactions produced. Doggett also said he has paid taxes on all of the gains.

Doggett wrote that “in reviewing both the existing disclosure requirements and my prior filings, I have determined that until this year, I have not included as part of the earnings … the net gains from each of these sales that resulted in a gain.—

Doggett’s letter also said, “For the last several years, in an effort to ensure the accuracy and completeness of this report, I have also submitted a draft of my disclosure for advance review by [ethics] committee staff.—

Doggett’s amendment lists capital gains for 19 transactions between 2001 and 2007 totaling $201,738.

Doggett’s amendment follows that of his Texas colleague, Republican Rep. John Carter, who last month acknowledged failing to report about $350,000 in profits from stock sales over the past three years.

Doggett’s office pointed out that the Congressman’s most recent report covering 2008 was correct.