The Wall Street Journal is reporting today in a front page story called the "Housing Industry Ramps Up Political Donations" that Rep. Paul Kanjorski is a big recipient of campaign donations from the housing industry.
The article details how most of the money is being directed to committee members who are guiding work on the housing rescue package. Because Kanjorski sits on the House Financial Services Committee and is influential, the housing industry has targeted Kanjorski.
From the Journal:
When the National Association of Home Builders wasn't getting what it wanted in the housing bill, it shut off the campaign-cash spigot.
The group's chief executive, Jerry Howard, said it withdrew contributions until Congress included measures it wanted, including a credit for first-time home buyers. The group's members made 300 visits to lawmakers and 1,200 phone calls demanding action, and the group's board voted to resume contributions when the measure began to take a shape more to its liking.
The housing industry is particularly active this election cycle. During the 2006 Election cycle, the housing industry contributed $57 million in campaign contributions up to this point in the year. By contrast, $95 million has already been donated for this year.
Some of the biggest donors in the housing industry include Countrywide Financial. Based on data from the Center for Responsive Politics, Paul Kanjorski received the largest donation to members in the House--$10,000--from Countrywide Financial. Rep. Tom Feeney from Florida was the next closest on the list with $6,000 in donations. Feeney also serves on the House Financial Services Committee.
Kanjorski has been a big supporter of pro-active measures to stabilize the housing market. On his website, he declares, "Paul understands the complexities of the current turmoil in the mortgage marketplace and has been intimately involved in Congressional efforts to stabilize the housing market."
Some of the biggest donors in the housing industry include Countrywide Financial. Based on data from the Center for Responsive Politics, Paul Kanjorski received the largest donation to members in the House--$10,000--from Countrywide Financial. Rep. Tom Feeney from Florida was the next closest on the list with $6,000 in donations. Feeney also serves on the House Financial Services Committee.
Kanjorski has been a big supporter of pro-active measures to stabilize the housing market. On his website, he declares, "Paul understands the complexities of the current turmoil in the mortgage marketplace and has been intimately involved in Congressional efforts to stabilize the housing market."
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