Donations from financial, insurance and real estate interests made up nearly 56 percent of the more than $1.6 million raised by Republican Rep. Scott Garrett in the current race, a report from the Sunlight Foundation found.
Only two other members of congress have received more from financial, real estate and insurance groups in the current election cycle, according to the study. Garrett received a total of $918,038 from the interests.
The Sunlight Foundation said the campaign cash buys access. Garrett chairs a subcommittee overseeing financial market regulation, including the Securities and Exchange Commission.
“It buys face time at fundraisers and a chance to make sure that members of Congress hear about the concerns of the financial sector – over and over and over again. But at these high concentrations, it also buys dependence. Dozens of members of Congress are at a point where they can’t really run for office without the support of donors from this sector. And that’s a troubling proposition, given the fiscal and financial sector policy that’s at stake,” the foundation said.
The Wantage Republican is running against Teaneck Deputy Mayor Adam Gussen, a Democrat who has not raised the required minimum amount to require federal reporting.
A Garrett campaign official did not immediately respond to a request for comment.