Road to Depression

Wall Street firms donated $11.2 million to Super Congress members!

on . Posted in Road to Depression

WASHINGTON - August 18, 2011 - The bipartisan "super committee" created by the debt ceiling deal is comprised of lawmakers who have received big bucks from special interest groups, according to a report by MapLight.

The committee is tasked with finding at least $1.2 trillion in deficit cuts over ten years.

In total, the twelve members appointed to the Joint Select Committee on Deficit Reduction got nearly $64.5 million from special interests groups over the past decade, with legal firms donating about $31.5 million and Wall Street firms donating about $11.2 million.

Of that $11.2 million, Goldman Sachs, Citigroup, Bank of America and JPMorgan Chase donated approximately $2 million combined.

The members appointed to the committee are Sens. Pat Toomey (R-Penn.), Jon Kyl (R-Ariz.), Rob Portman (R-Ohio), Patty Murray (D-Wash.), John Kerry (D-Mass.), and Max Baucus (D-Mont.), and Reps. Jeb Hensarling (R-Tex.), Fred Upton (R-Mich.), Dave Camp (R-Mich.), Chris Van Hollen (D-Mary.), Xavier Becerra (D-Kalif.), and Jim Clyburn (D-S.C.).

Democrat and liberal groups donated the third most amount of money, with about $9.6 million in political contributions, and the health industry donated the fourth most, with about $9.3 million.

Club for Growth, a conservative free market group, donated more money than any other organization, contributing a combined $990,066 to the twelve lawmakers. The vast majority of that money went to Senator Toomey.

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