REP. AMORY HOUGHTON (R-NY)

On July 12, 1993, Rep. Houghton purchased between 250,000 and 500,000 dollars worth of stock in Corning.

Eleven days later (July 23, 1993), a bill was introduced in the House (and referred to Houghton's Ways and Means Committee) that would appear to greatly benefit Corning. The bill was H.R. 2731: OMNIBUS COMMERCIALIZATION ACT...To encourage the development of a commercial space industry in the United States. Corning, as you know, does a great deal of business for the space industry, and would dearly love to get some new tax breaks (H.R. 2731 is full of juicy tax breaks for firms like Corning).

Rep. Houghton is a former executive with Corning and owns over one million dollars worth of stock in the company. Interestingly, Houghton's 1993 stock purchase in Corning is his first reported purchase since at least 1990 (i.e., No stock purchases on his 1991 or 1992 financial disclosure forms).

On May 31, 1993, Rep. Houghton purchased between 15,000 and 50,000 dollars worth of stock in Sun Microsystems (a major defense contractor).

Three weeks later (June 21, 1993), a bill was introduced in the House (and referred to Houghton's Ways and Means Committee) that would appear to greatly benefit Sun Microsystems. The bill was H.R. 2064: DEFENSE REINVESTMENT AND HIGH-TECH JOB CREATION ACT...To allow a tax credit for defense conversion.

Rep. Houghton's purchase of Sun Microsystems is his first reported stock purchase in this company.

NOTES: Rep. Houghton is # 9 on the House Ways and Means Committee.