Posts tagged Congress
Posts tagged Congress
WASHINGTON — Rep. Thomas Petri (R-Wis.) on Thursday introduced legislation to provide tax credits and deductions for political donors making small contributions.
“The digital currency Bitcoin is perhaps best known for its use in buying illegal drugs from online stores like the now-defunct Silk Road. An upcoming Federal Election Commission ruling will expand what you can buy with bitcoins into a strictly legal realm: purchasing politicians.
"The FEC is set to approve an advisory opinion this week allowing federal political campaigns to accept contributions in bitcoins. The agency will treat bitcoins the same way it treats donations of stock, as an in-kind gift worth the amount at which it was valued at the time of contribution.”
What could go wrong?
It’s taken for granted that lobbyists influence legislation. But perhaps less obvious is that they often write the actual bills — even word for word.
But here’s the best part:
In fact, emails reviewed by The New York Times show that Citigroup lobbyists drafted more than 70 of the 85 lines of the House bill, as they tried to develop language that Democrats and Republicans on the Financial Services Committee could support.
- One House GOP aide, according to the New York Times, “in an email exchange among House Financial Services staff members last year, warned that lawmakers should not mimic the talking points from lobbyists.”
But don’t worry, Democrats are going to vote for the Wall Street bill in the House this week too (emphasis added):
"House aides, when asked why Democrats would vote for this proposal even though the Obama administration opposes it, offered a political explanation. Republicans have enough votes to pass it themselves, so vulnerable House Democrats might as well join them, and collect industry money for their campaigns.”
In this week’s Public Campaign money-in-politics roundup: lobbying, a new book for your reading list, and something about dead pheasants. (Public Campaign)
Need something to do this weekend? Rep. Steve King is hosting Sen. Ted Cruz in Iowa for a pheasant hunt fundraiser on Saturday.
$30 gets you a ticket, but $2,500 gets you a hotel stay and makes you a member of “King’s Inner Circe.”
(“Lobbyists Ready for a New Fight on U.S. Spending,” New York Times)
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