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DECEMBER 22, 1998   6:53 PM
FOR IMMEDIATE RELEASE
CONTACT: Center for Responsive Politics
 
Campaign Cash of Speaker-to-be Hastert Reflects Committee Assignments
 
WASHINGTON - December 22 - Here is the latest campaign finance profile of the anticipated new Speaker of the House, Rep. Dennis Hastert (R- Ill). Hastert raised almost 42 times as much as his opponent for his 1998 re-election bid taking in just over $1 million and spending almost $945,000. That was about 50 percent higher than the average of $626,000 spent by House winners in the 1998 elections.

Hastert's contribution profile largely reflects the industries that lobby the House Commerce Committee, on which he served during the 105th Congress. The committee oversees health care, telecommunications policy, and electricity markets. The two leading industries giving to his 1998 campaign were health professionals ($62,200) and insurance ($59,990). Hastert chaired the House Working Group on Health Care Quality, a Republican task force that produced the GOP's counterpart to the Democrats' "Patient's Bill of Rights."

Other top contributors to Hastert's campaign were electric utilities ($48,099), telephone utilities ($43,480) and commercial banks ($34,675).

Bank One Corp. was his single biggest donor. The company's PAC and two subsidiary PACs gave a total of $13,500. Four other business PACs - BellSouth, Ameritch, the American Medical Association, and Caterpillar Inc. - gave $10,000 or more, as did the Operating Engineers Union.

Overall, Hastert collected just over $600,000 in PAC contributions during 1997-98, about 60 percent of his total revenues.

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