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Rangel lowballed net worth by half
By: Susan Ferrechio
Chief Congressional Correspondent
08/25/09 8:43 PM EDT
House Ways and Means Committee Chairman Charlie Rangel, D-N.Y., has amended his 2007 financial disclosure forms, adding hundreds of thousands of dollars in previously undisclosed assets.
The news was first reported on the Website of Congressional Quarterly earlier today. The site reports that Rangel filed an amended financial disclosure statement earlier this month to include $250,000 in a Congressional Federal Credit Union, "land in southern New Jersey and stock in PepsiCo and fast food conglomerate Yum! Brands," CQ reports.
The amended report doubles Rangel's net worth reported in the original form filed in 2008.
Rangel holds the gavel of the House tax writing panel. He is under investigation by the House ethics committee for failing to pay back taxes and suspicion of engaging in a pay-for-play scheme involving donations to a school named after him. Ethics is also probing a trip Rangel took to the Caribbean with other members of the Congressional Black Caucus. Democrats put a fellow members of the Congressional Black Caucus in charge of the Caribbean investigation.
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