Auto, home, business and life insurance companies contributed $35,743,017 million to members of Congress during the last two election cycles, according to an analysis by the nonprofit, nonpartisan Consumer Watchdog.
About $5 million went to members of the House subcommittee holding a hearing this week entitled "How Should the Federal Government Oversee Insurance?"
The top recipients of insurer contributions in the U.S. Senate and House of Representatives were Sen. John McCain, R-Ariz., $2,287,345; Sen. Chris Dodd, D.-Conn., $1,102,056, and Rep. Paul Kanjorski, D.-Pa., $491,545. Senator Dodd heads the Senate Banking, Housing and Urban Affairs Committee, which has jurisdiction over insurance matters, and Rep. Kanjorski chairs the House Financial Services Subcommittee holding this week's hearing.
Other top recipients from insurance interests according to Consumer Watchdog, include Rep. Melissa Bean, D.-Ill., $358,603, and Rep. Ed Royce, R-Calif., $297,574 who are co-sponsoring industry legislation to allow large insurers to opt out of state regulation in favor of a federal regulator.
House Financial Services Committee Chair Rep. Barney Frank, D.-Mass., and Vice Chair Rep. Spencer Bachus, R.- Ala., have received $342,796 and $312,550, respectively from insurance industry sources.
The campaign contribution data used in Consumer Watchdog's analysis was compiled by the Center for Responsive Politics.
A list of top Congressional recipients of insurance money follows:
Top Ten Senate Recipients of Insurer Contributions
Top Ten House Recipients of Insurer Contributions
*Member of Congressional committee on insurance matters
A "pivot table" spreadsheet that allows users to pull up industry contributions by lawmaker, by party and other categories can be downloaded at http://www.consumerwatchdog.org/resources/Insurer$PivotFINAL.xls
A pdf displaying total contributions to each member of Congress, and identifying members of the House committee responsible for insurance matters, can be downloaded at: http://www.consumerwatchdog.org/resources/Ins$DataSubtotals.pdf
Source: Consumer Watchdog
Suggested Discussion Topics
1. Do you think Congress will pass the optional federal charter legislation? Should it pass? For only life insurers or property/casualty, too?
2. Do you think members of Congress are unduly influenced by the contributions they receive from special interests?
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