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New Report
Lawmakers Hold "over $75 Mil" in Defense Assets
Kerry Tops Bipartisan List; Watchdog Fears Conflict of Interest in Iraq Policy
04/04/2008 7:39 PM ET
Member of Congress Minimum Value of Investment Maximum Value of Investment
Sen. John Kerry (D-Mass) $28,872,067 $38,209,020
Rep. Rodney Frelinghuysen (R-NJ) $12,081,050 $49,140,000
Rep. Robin Hayes (R-NC) $9,232,037 $37,105,000
Rep. James Sensenbrenner Jr. (R-Wis) $5,207,668 $7,612,653
Rep. Jane Harman (D-Calif) $2,684,050 $6,260,000
Rep. Fred Upton (R-Mich) $2,469,029 $8,360,000
Sen. Jay Rockefeller (D-WVa) $2,000,002 $2,000,002
Rep. Tom Petri (R-Wis) $1,365,004 $5,800,000
Rep. Kenny Ewell Marchant (R-Texas) $1,163,231 $1,163,231
Rep. John Carter (R-Texas) $1,000,001 $5,000,000

As the Petraeus-Crocker hearings approach on Capitol Hill next week, a new study from the Center for Responsive Politics (CRP) finds that 151 members of Congress hold combined assets of up to nearly $200 million in defense-related companies, writing:

According to the most recent reports of their personal finances, 151 current members of Congress had between $78.7 million and $195.5 million invested in companies that received defense contracts of at least $5 million in 2006. In all, these companies received more than $275.6 billion from the government in 2006, or $755 million per day, according to FedSpending.org, a website of the budget watchdog group OMB Watch.

The table above shows the estimated top ten lawmakers' holdings in the defense sector. Although the CRP writes that "hawks and doves," as well as Republicans and Democrats, are equally invested in the defense sector, the public affairs watchdog suggests that legislators may face a conflict of interest as they discuss Iraq policy.

See the full report here on the CRP website.

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