Rangel Sells Condo That Figured in Ethics Case

U.S. Representative Charles Rangel, censured last year by the House for ethics violations, sold his Dominican Republic villa that prominently figured in the charges.

Rangel’s transaction was divulged in financial disclosure forms released today for members of the House and Senate. They offer a picture of the financial holdings and dealings of the lawmakers, listed in broad ranges rather than exact amounts.

Freshman Senator Marco Rubio, a Florida Republican, reported owing $100,000 to $250,000 in student loans. Senator Maria Cantwell, a Washington state Democrat, still carried loans of between $1 million and $5 million from her 2000 campaign.

Representative Frank Pallone, a New Jersey Democrat, won $24,835.33 in his state’s lottery.

Senator Scott Brown, the Massachusetts Republican who won the late Democratic Senator Edward Kennedy’s seat in a special election last year, reported receiving a $700,000 book advance for his autobiography published earlier this year. Senator Orrin Hatch, a Utah Republican, received $10,381 in music and book royalties.

Rangel’s Villa

Rangel, a New York Democrat, reported selling the Punta Cana Beach Villa in December for between $250,000 and $500,000.

The 81-year-old lawmaker became the first House member censured in 27 years when the House rebuked him last December. The charges against Rangel included his failure to pay taxes for 17 years on rental income from the villa. As part of its resolution, the House voted to require him to pay those taxes.

In other reports, Senator Lindsey Graham, a South Carolina Republican, listed earning $1,000 to $2,500 in rent from Washington property valued at between $500,000 and $1 million. Democratic Senator Tom Carper of Delaware took in $15,000 to $50,000 in rent from the Washington property he owned, valued at between $250,000 and $500,000.

Senator Dianne Feinstein, a California Democrat, and her husband own a San Francisco hotel valued at between $5 million and $25 million. Feinstein and her husband also reported owning a Hawaii condominium, valued at between $1 million and $5 million. Democratic Senator Tom Harkin of Iowa and his wife own a vacation home in the Bahamas, valued at between $500,000 and $1 million.

Iowa’s Republican senator, Charles Grassley, owns farmland in his home state valued at between $900,000 and $2 million and reported spending between $15,000 and $50,000 buying additional land last year. His family farm operation reported net income of $76,729.

Senator Jon Tester, a Montana Democrat, reported farm holdings. He is the president of T-Bone Farms in Big Sandy, Montana, valued at between $250,000 and $500,000, with farmland valued at between $500,000 and $1 million. Ohio Democratic Senator Sherrod Brown’s family farm was valued at between $250,000 and $500,000.

To contact the reporters on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net; Andrew Zajac in Washington at azajac@bloomberg.net.

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.