Contributions from political action committees of the energy, banking, real estate, construction and insurance industries accounted for one-third of all PAC funds received by members of the two congressional tax-writing committees during their last campaigns. An article yesterday incorrectly said the contributions accounted for one-third of all funds the committee members received.
Political action committees of the energy, banking, real estate, construction and insurance industries contributed one-third of all funds received by members of the two congressional tax-writing committees during their last campaigns, according to a study released yesterday.
The self-styled citizen's organization Common Cause said it found that contributions from all business political action committees, or PACs, accounted for 68 percent of the $16.7 million received by members of the House Ways and Means and Senate Finance committees.
The five industries made the bulk of their contributions before the Treasury Department's first tax-revision proposal was released Nov. 28. They generally are the industries that would be most hurt by that plan and by President Reagan's revised tax plan, now before Congress.
The study found that labor PACs donated $2 million, or 12 percent of the total, during the same campaign period, from Jan. 1, 1983, to Dec. 31, 1984. Figures for Senate Finance Committee members elected in 1982 or 1980 were based on contributions during those campaigns. All figures in the study came from PAC reports filed with the Federal Election Commission.
"Special-interest groups have enormous economic stakes in the present tax debate," Common Cause President Fred Wertheimer said. "Many of these groups go into battle with a lot of PAC money already invested in the committee members who will make the key tax decisions."
One member of the 20-member Senate Finance Committee, Sen. David L. Boren (D-Okla.), does not accept contributions from PACs. On the 36-member Ways and Means panel, Reps. Bill R. Archer (R-Tex.), Philip M. Crane (R-Ill.), Willis D. Gradison Jr. (R-Ohio) and Andrew Jacobs Jr. (D-Ind.) do not accept PAC contributions.
An earlier Common Cause study found that incumbent Ways and Means members averaged more money in campaign contributions than members of any other committee.
They received an average of $181,613 from PACs during the 1983-1984 campaign periods, compared with a House average of $139,070. Because not all Senate Finance Committee members stand for reelection at the same time, no comparable figures are available.
The new study found that the energy industry contributed $1,470,902 to the campaigns of members of Ways and Means and Finance. Banking and financial services contributed $1,415,010; real estate and construction, $1,284,970; and insurance, $1,272,600.
The total for business PACs was $11,391,420; Labor PACs, $2,019,535; and $1,189,127 for "ideological/other."