Congressman Invests Campaign Funds From Contributors

Posted April 10, 2013 at 6:06pm

Rep. Joe Barton (R-Texas), former chairman of the House Energy and Commerce Committee, reported his campaign fund earned $75,637 from interest and investments during the first quarter of 2013. The committee has $946,793 in cash on hand. The first-quarter value of investments/sales included Prosperity Bank (+ $51,000); Home Depot (+$14,464); General Electric (+ $11,212); Fidelity Select Energy Services (+ $9,197); Lennar Corp. (+ $6,039); Fidelity Dividend Growth (- $4,946); and Fidelity Balanced (- $15,587).

The Congressman Joe Barton Committee investment income almost equaled the $80,227 it received from individuals and PACs. Most of his PAC receipts were from energy-related company PACs, such as Exelon Corp. PAC ($5,000); Exxon Mobil Corp. PAC ($5,000); Edison Electric Institute PAC ($2,500); Nuclear Energy Institute PAC ($2,500); among others. His individual contributors included R.H. Pickens (The Pickens Company) $5,200; and John Young (president & CEO, Energy Future Holdings) $1,000; among others.
The committee paid his daughter Kristin E. Barton $16,321 during the period for payroll. The committee also made one contribution to his wife, Terri Barton, for EISD School Board, Ennis, Texas.  See Rep. Barton’s 2011-2012 financial profile.