By Jonathan D. Salant
Associated Press
Dec. 25, 2002
WASHINGTON - Close to half of the incoming members of Congress are millionaires,
and many will face votes that could affect their financial holdings.
Arizona GOP Reps.-elect Trent Franks and Rick Renzi are among millionaires.
For example, 11 of the 63 first-termers in the House and Senate have financial interests of at least $15,000 in banking or credit card companies, according to an Associated Press review of financial disclosure forms filed during the campaign.
Several incoming freshmen have significant financial holdings in the pharmaceutical and oil industries, both of which could well be the subject of congressional action next year.
The oil industry favors opening Alaska's Arctic National Wildlife Refuge to oil and gas exploration, a subject of heated dispute in the past Congress.
Franks, owner of Liberty Petroleum Corp., said his business interests won't cloud his votes.
"There's every desire on my part to do what's best for the country and
for the people I represent, regardless of any implication it has upon my business,"
he said.
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