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IN BRIEF/ACCOUNTING

Industry Donated to Authors of Legislation

June 22, 2002|Bloomberg News

Four U.S. senators on the committee that wrote and approved legislation regulating the accounting industry are among the top five recipients in Congress of money from the industry since January 2001, campaign finance records show.

New York Democrat Charles E. Schumer tops the list at $75,300, followed by Wyoming Republican Mike Enzi at almost $53,500. Colorado Republican Wayne Allard is fourth at $40,600, and Texan Phil Gramm, who is retiring from Congress, is fifth at $37,500, according to the Center for Responsive Politics.

All are members of the Banking, Housing and Urban Affairs Committee, which this week approved a bill to create an accounting oversight board and change accounting standards.

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