New research highlights Rep. Tom Price’s ties to financial services industry

Price Puts Big Money Interests Ahead of Struggling Residents in His Georgia District

 

Washington, D.C.—On Monday, Rep. Tom Price (R-Ga.) appeared on Fox News to explain his opposition to financial reform legislation defending the “wonder” and “awe” of our economy. What Georgia voters should be in awe of is the hundreds of thousands of dollars Wall Street executives and financial interests have showered Rep. Price with, according to campaign finance data analyzed by watchdog Public Campaign Action Fund.

“Rep. Price voted against financial industry reform—even after big banks reeked havoc on our economy,” said David Donnelly, national campaigns director for Public Campaign Action Fund. “Like the rest of America, Georgians are struggling to find jobs and pay the bills, yet Rep. Price continues to defend the industry that has rewarded him with hundreds of thousands in campaign cash.”

“We know what’s on the menu when Rep. Price holds luncheons for his political backers, spoonfuls of special interest talking points with a side of pork and political paybacks,” continued Donnelly. “Rep. Price needs to assure his constituents he’s representing them—and not big Wall Street donors—in Washington, D.C.”

On December 11, 2010, Rep. Price voted against the Wall Street Reform and Consumer Protection Act. Just a day earlier, he held a Financial Services Luncheon fundraiser, according to the Sunlight Foundation’s PolitcalPartyTime.org. Donations of $2,500, $1,000, or $500 were expected. In 2009 alone, Rep. Price received $168,000 from finance industry interests. During his time in Congress, Rep. Price has received more than $1 million in campaign contributions from the finance, insurance, and real estate sector, according to the nonpartisan Center for Responsive Politics.

Public Campaign Action Fund is working to pass the Fair Elections Now Act, legislation that would end Congress’ reliance on special interest cash by creating a system that blends limited public funds with a 4-to-1 match on donations of $100 or less. The legislation is sponsored by Reps. John Larson (D-Conn.) and Walter Jones (R-N.C.) in the House and Assistant Majority Leader Sen. Dick Durbin (D-Ill.) in the Senate.

The interview with Rep. Price is available online.