Almost across the board, industries and interest groups are engaging in what amounts to legalized bribery by funneling enormous amounts of money to the very lawmakers who are supposed to be holding their feet to the fire. As members grow in power and seniority, the industries they are responsible for regulating steer more and more money into their campaign coffers.
During the 2010 election cycle, the industries examined by Citizens for Responsibility and Ethics in Washington donated more than $8.9 million to the chairmen and ranking members responsible for regulating them. For instance, Rep. Collin Peterson (D-MN), the ranking member of the Agriculture Committee has seen his donations from agriculture industries soar by 711% since 1998. The rate of growth of his total contributions was only 274% over the same period. How does this impact his voting on the industries regulated by the Committee? Rep. Peterson cast six votes on issues relevant to the ‘Dairy’ industry from 2009-2010. He voted in agreement with the industry 50% of the time. The average Democrat voted in agreement only 23% of the time. Rep. Peterson voted in agreement with the ‘Agriculture Services/Products’ industry 85% of the time since January 2011. The average Democrat voted in agreement only 32% of the time. Rep. Peterson voted in agreement with the ‘Crop Production and Basic Processing’ industry 87% of the time since January 2011. The average Democrat voted in agreement only 33% of the time.
On the other side of the aisle, Rep. Spencer Bachus (R-AL), chairman of the Financial Services Committee, has experienced a 620% increase in donations from the financial services industries since 1998. Overall, contributions to his campaign increased by 234%. How does this impact his voting on the industries regulated by the Committee? Rep. Bachus cast 14 votes on issues relevant to the ‘Securities & Investment’ industry from 2007-2008. He voted in agreement with the industry 64% of the time. The average Republican voted in agreement only 53% of the time. Rep. Bachus voted in agreement with the ‘Finance/Credit Companies’ industry 64% of the time from 2007-2008. The average Republican voted in agreement only 46% of the time. Rep. Bachus voted in agreement with the ‘Commercial Banks’ industry 70% of the time from 2007-2008. The average Republican voted in agreement only 52% of the time.
The House Committee Chairmen and Ranking Members are beholden to the industries that they oversee. They aren’t independent enough to put public interest ahead of special interests.
