NEW YORK (TheStreet) -- Goldman Sachs (GS), Citigroup (C), JPMorgan Chase (JPM), Bank of America (BAC) and General Electric (GE) all rank in the top 10 organizations in terms of their campaign contributions to a special Congressional committee charged with finding ways to reduce the deficit, according to MapLight.org a nonpartisan organization that studies the relationship between money and politics.
Companies classified as belonging to the "Securities and Investment industry" donated a total of more than $11 million to the 12 members of the bipartisan Joint Select Committee on Deficit Reduction from Jan. 1, 2001 through 2010.
That was second only to lawyers and law firms, which donated nearly $32 million over the same time period. Skadden, Arps, Slate Meagher & Flom is the only law firm listed among the top 10 contributors, however, which also includes Microsoft Corp. (MSFT), the University of California and Emily's list, an organization devoted to electing pro-choice Democratic women to public office.
The top donor organization to the so-called "Super Committee" is a political action committee known as Club for Growth, which says its "primary tactic" is "to provide financial support from Club members to viable candidates to Congress who believe in pro-growth policies, limited government, low taxes and economic freedom, both in Republican primaries and general elections."The members of the super committee are Sens. Pat Toomey (R-Pa.), Jon Kyl (R-Ariz.), Rob Portman (R-Ohio), Patty Murray (D-Wash.), John Kerry (D-Mass.), and Max Baucus (D-Mont.) and Reps. Jeb Hensarling (R-Texas), Fred Upton (R-Mich.), Dave Camp (R-Mich.), Chris Van Hollen (D-Md.), Xavier Becerra (D-Calif.), and Jim Clyburn (D-S.C.) MapLight drew upon data from the Center for Responsive Politics in performing its analysis. -- Written by Dan Freed in New York.
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