NEWS

Democrats Voting for Derivatives Bill Receive More Money From Citigroup and Other Financial Institutions

admin | November 21, 2013

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.
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