Critics target GOP lawmaker for not disclosing oil royalties linked to bill
By Susan Crabtree - 11/16/10 06:00 AM ET
A Republican lawmaker unveiled a bill that would benefit oil-and-gas companies that pay him royalties.
Rep. Mike Conaway (R-Texas) was the chief financial officer of an oil-and-gas exploration firm before his election to Congress in 2004 and still has an extensive portfolio of investments in the sector.
Though it is difficult to ascertain the exact wealth of members from the financial disclosure forms they must make public, Conaway’s filing in 2009 showed he had between $100,000 and $276,000 in oil-and-gas holdings.
Conaway sponsored legislation in 2009 to retroactively lift income limits for a tax break that would benefit some of the oil-and-gas companies that continue to give him royalties.While the bill never gained traction in the Democratic-led Congress, watchdog groups say he should have asked the House ethics committee for permission to author the legislation, given his investments. Conaway, however, argues he did nothing improper.
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http://thehill.com/homenews/house/129265-critics-target-gop-rep