Gannett reported that Rep. Tom Petri [R-WI] successfully advocated in Congress and with Pentagon officials for the economic interests of a Pentagon contractor, Oshkosh Corp., in which Petri owns hundreds of thousands of dollars of stock. [1] After he bought the stock, Petri pressed fellow Members of Congress and Pentagon officials to help the company retain a $3 billion contract and escape Pentagon cuts. Meanwhile, the value of Petri's stock increased between $75,000 and $213,000. (Representatives are only required to report these numbers in ranges.)
House Ethics rules prohibit members from using their official position for personal gain. Public Citizen has called on the Office of Congressional Ethics to investigate. [2]
We know that it's difficult to cut the Pentagon budget because of the huge campaign contributions Members of Congress receive from Pentagon contractors. But this case is much more extreme. “This is not just benefiting a major campaign contributor, this is going into his own pocket,” said Craig Holman, senior legislative director for Public Citizen.
A mainstream media report that has not been contradicted is sufficient evidence to justify a preliminary investigation. Urge the Office of Congressional Ethics and Members of the House Ethics Committee to begin investigating Rep. Petri's Pentagon contractor conflict of interest.
References:
1. “Lawmaker holds stock in defense contractor he champions,” Donovan Slack, USA Today, February 8, 2014,
http://www.usatoday.com/story/news/politics/2014/02/08/tom-petri-contractor-stock/5279629/
2. “Ethics watchdog urges investigation of U.S. Rep. Tom Petri,” Donovan Slack, Gannett, Feb. 11, 2014,
http://www.postcrescent.com/article/20140211/APC0198/302110385/Ethics-watchdog-urges-investigation-U-S-Rep-Tom-Petri
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