REP. DAN ROSTENKOWSKI (D-IL)

• On September 2, 1993, Rep. Rostenkowski purchased stock in three leading pharmaceutical companies: Bristol Myers Squibb (1,000 - 15,000 dollars), Merck (15,000 - 50,000 dollars), and Schering Plough (1,000 - 15,000 dollars).

During the period March 1, 1993 and September 21, 1993, a bill was being considered in Congress that would damage all three pharmaceutical companies. The bill was H.R. 1158: PRESCRIPTION DRUG AFFORDABILITY ACT OF 1993 (Introduced on March 1; Last Action September 21). Referred to House Ways and Means, and House Energy and Commerce. This bill seeks to remove a section 936 tax credit for the pharmaceutical industry. If passed, this bill would mean that the pharmaceutical industry would stand to lose between 3 and 4 BILLION dollars in revenue per year.

Apparently, the pharmaceutical industry didn't take any chances concerning this bill's possible passage. Lobbyists Winston & Strawn; Powell, Goldstein, Frazer & Murphy; Ernst & Young (with their lobbyists Johnson and Associates; R. Duffy Wall; Mayer, Brown & Platt) were all brought forward to kill the legislation.

According to recent FEC contributions data, Rep. Rostenkowski has accepted over 16,000 dollars from these lobbyists, and the PACs of Bristol Myers, Merck and Ernst & Young.

H.R. 1158 has one sponsor, and eleven co-sponsors. Interestingly, none of these 12 members accepted any campaign contributions from Bristol Myers, Merck or Schering Plough.

• On August 16, 1991, Rep. Rostenkowski purchased stock in nine different utilities companies (FPL Group; Hartford Steam Boiler; LG & E Energy Group; Long Island Lighting; New York State Electric and Gas; Northeast Utilities; Public Service Enterprise Group; Union Electric; Templeton Global Utilities. The total value of his purchase was somewhere between 9,000 and 135,000 dollars.

One day later, August 17, President Bush signed P.L. 104: the ENERGY AND WATER DEVELOPMENT APPROPRIATIONS ACT.

Rep. Rostenkowski purchased more utilities stock on January 7, 1992 (LG & E Energy Group; Long Island Lighting; New York State Electric and Gas; Northeast Utilities).

NOTES: Rep. Rostenkowski was Chairman of the House Ways and Means Committee.