Key Congressional committee members invest in Comcast, Verizon, AT&T, report says

Members of Congress serving on subcommittees charged with legislating the Internet are invested in major broadband service providers including Comcast (NASDAQ: CMCSA), AT&T (NYSE: T) and Verizon (NYSE: VZ), some of them with significant holdings.

The data comes courtesy of MapLight.org, and was distilled by Gizmodo. According to financial disclosures, four members of the House Committee on Energy and Commerce, and one member of the Senate Committee on Commerce, Science and Transportation, hold personal investments in one, two or all of the aforementioned ISP giants, AT&T, Comcast and Verizon.

Fred Upton, (D-Mich.), chairman of the House Committee on Energy and Commerce is invested in all three companies, according to public disclosures.

While disclosure is mandatory, investing in companies they regulate is not illegal for Congressional lawmakers.

"In sum, there are no restrictions on any kind of investments," Meredith McGhee, policy director at the Campaign Legal Center, told Gizmodo. "Members in the House (and Senate) are not required to divest. To recuse or abstain from voting, they have to have a 'direct personal or pecuniary interest in the event of such question.' That is interpreted to mean when legislation affects a 'class' of people and not a few individuals."

For more:
- read this Gizmodo story
- see this Maplight.org database

Related links:
FCC's Wheeler says he expects lawsuits on net neutrality regardless of what rules are passed
AT&T halts fiber deployments until net neutrality is resolved
FCC wants AT&T to provide information on fiber investment delay
AT&T's Stephenson appeals directly to FCC's Wheeler to not reclassify broadband under Title II
FCC's Wheeler proposes two-tier net neutrality plan for broadband services
FCC flooded with over 3M comments about net neutrality rules

Suggested Articles

Comcast is calling on its cable brethren, Charter and Cox, for a new initiative called On Addressability focused on building a “sound, scalable and sustainable…

NCC Media and OpenAP are teaming up to allow national advertisers to use OpenAP’s audience segment definitions when buying across NCC Media’s linear, VOD and…

Comcast is launching new controls for its X1 television service that will allow people with certain disabilities to operate their cable TV systems using their…