Political Quotes

“I want to comment briefly on the amendment that has been proposed by the Senator from California to the legislation written by Senator Brown. Senator Gillibrand has a similar bill as well, and I want to explain to our colleagues what the state of the current law is, which I think would be helpful. Under the Ethics in Government Act of 1978, there is an exemption from disclosure for mortgages secured by real property that are the personal residence of the reporting individual or his spouse. Under the liabilities section of that same report, which we now file annually, liabilities in excess of $10,000 must be reported that are owed by the Member, the spouse, or the dependent child to any one creditor during any time during the reporting period. Credit card debts, for example, are reported. Other kinds of loans are reported. Mortgages held on investment properties--properties, for example, that are rented--are reported. The exemption only goes to the personal residence of the Member and/or the Member's spouse. I am unclear, and need to get clarification from Senator Boxer and also the Office of Government Ethics, whether her amendment would extend the new disclosure requirement that she is proposing to executive branch employees or whether it would only apply to the legislative branch. As I read her amendment, it looks as though it only applies to the legislative branch and perhaps only to Members.…”