Democrats Voting for Derivatives Bill Receive More Money From Citigroup and Other Financial Institutions
Democrats were split when the House of Representatives voted on October 30, 2013 to pass H.R. 992, a bill seeking to reverse new financial derivatives regulations that were approved by Congress in 2010 as part of the Dodd-Frank Act. According to the New York Times, lobbyists from Citigroup played a major role in drafting the bill.
The bill attracted the support of 70 House Democrats; 119 Democrats voted "No" and 11 did not vote. How did campaign contributions from Citigroup and other interests supporting the bill correlate with how House Democrats voted?
Data: MapLight analysis of campaign contributions to members of the House of Representatives from interest groups supporting and opposing H.R. 992, from January 1, 2011—December 31, 2012. Data source: OpenSecrets.org.
- Democrats voting in favor of H.R. 992 have received, on average, 2.5 times more money from banks, securities companies, and other supporting interests than Democrats voting against the bill.
- Democrats voting in favor of H.R. 992 have received, on average, 8 times more money from Citigroup than Democrats voting against the bill.
About MapLight: MapLight is a 501(c)(3) nonprofit, nonpartisan research organization that reveals money's influence on politics. If our work has been helpful to you, please consider supporting us.
Image source: Jeff Turner/Flickr