Title: Removing Rep. Charles Rangel as Chairman of House Committee on Ways and Means
Vote Smart's Synopsis:
Vote on a motion to refer a resolution to the House Committee on Standards of Official Conduct that calls for the removal of Representative Charles Rangel as Chairman of the House Committee on Ways and Means.
Specifies that the New York Times reported that Rep. Rangel earned more than $75,000 in rental income from a house he owns in the Dominican Republic since 1988 but failed to disclose such income on his federal or state tax returns and his annual congressional financial disclosure statement.
Specifies that the New York Times reported that Rep. Rangel paid no interest on a mortgage extended to him to purchase the house in the Dominican Republic for more than 10 years after the interest on the loan was waived.
Alleges that Rep. Rangel's failure to report both the income and interest forgiveness is a violation House rules and federal, state and local tax law.
Alleges that Rep. Rangel's acceptance of interest forgiveness is a violation of the House gift ban.
Specifies that Rep. Rangel has acknowledged having failed to publicly disclose cash assets, investment income, and his ownership of two pieces of property in New Jersey.
Specifies that Rep. Rangel's financial disclosure statements filed on August 12, 2009 reveal that his net worth is almost twice as much as he previously reported.
Specifies that the New York Times reported that Rep. Rangel failed to report at least $500,000 in assets on his 2007 Congressional disclosure form.
Specifies that Rep. Rangel's position of Chairman of the House Committee on Ways and Means is a position of considerable political power and influence, has jurisdiction over the U.S. tax code, and permits him to participate in high level decisions on important issues.