The Cash Committee

The New York Times looks at the lucky House freshmen who have a seat on the powerful Financial Services Committee, “a place, critics say, where there are big incentives for freshmen to do special favors for the industry.”

“Political action committees — set up by lobbying firms, unions, corporations and other groups trying to push their agenda in Congress — have donated more money to Financial Services Committee members in the first six months of this year than to members of any other committee. The $9.4 million total is nearly $2 million more than the total for the Armed Services Committee, the only House panel with more members.”

“With so many lawmakers clamoring to be on the Financial Services Committee, it has grown to 61 members from 44 since 1980, forcing the installation of four tiered rows of seats in the Rayburn House Office Building — with the first row of lawmakers on the floor, just in front of the tables used for witnesses.”