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Supercommittee Member Becerra’s Investment Company Institute Fundraiser

Submitted by Adam Smith on Mon, 10/17/2011 - 03:57

The Hill reported in August that, “Mere hours after House Democratic Leader Nancy Pelosi (D-Calif.) named Rep. Xavier Becerra (D-Calif.) to the debt-reduction supercommittee, lobbyists were gearing up to fete him at a fundraiser later this month.”

The fundraiser invite came from a lobbyist for the Investment Company Institute (ICI), an association of investment companies. Becerra’s third-quarter campaign fundraising report filed over the weekend sheds some light on attendees at that fundraiser on August 31st.

According to the report:

  • On August 31, Becerra received $500 from Donald Auerbach, a lobbyist for ICI and $500 from Pat Raffaniello, a lobbyist for Raffaniello and Associates who represents ICI.
  • Also on that day, Becerra received $5,000 from two executives of Lord Abbett and Company, an ICI member.
  • An attorney for Capital Research and Management Company, a group of investment companies, made a $1,000 donation that day.

The deficit reduction supercommittee that Becerra sits on is charged with finding $1.5 trillion in deficit reduction measures and some of that could include raising revenues from Wall Street and financial industry interests.

Becerra raised $208,321 in donations of $200 or more from July 1 through September 30, 2011.

  • fundraising
  • supercommittee
  • xavier becerra
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