Wall Street Money Dries Up for Lawmaker After Anti-Gay Remarks
Rep. Scott Garrett, R-N.J., speaks during the Republican Study Committee news conference to unveil a FY2013 budget proposal on Tuesday, March 27, 2012.
Representative Scott Garrett, who heads an influential House subcommittee overseeing the U.S. capital markets, is facing a revolt by corporate and Wall Street donors after he reportedly made anti-gay remarks at a private meeting of Republican lawmakers.
Earlier this month, in what financial lobbyists said was a sign of things to come, the Big 4 accounting firms and their trade association abruptly canceled a fundraising event for the New Jersey Republican. In addition, Goldman Sachs Group Inc. has decided to stop making political action committee donations to Garrett, people familiar with the matter said.