FEI Releases Congressional Scorecard for 112th Congress

WASHINGTON and MORRISTOWN, N.J., Sept. 10, 2012 /PRNewswire/ -- Financial Executives International (FEI), the association of choice for CFOs and other senior-level finance executives, today announced the release of its first ever Congressional Scorecard, which rates lawmakers' records on their votes for or against FEI's priority legislative issues.

FEI's Government Affairs office in Washington, D.C., developed the Scorecard by identifying key votes from the 112^th Congress based on FEI's advocacy committees and overall membership priorities and calculating the percentage of times lawmakers case votes in support of FEI's positions out of the total key votes taken.

"As FEI members choose their representation in Congress this November, our Congressional Scorecard will give them valuable information on how their incumbent lawmakers have voted on the issues most important to senior-level financial executives," said Marie Hollein, President and Chief Executive Officer, Financial Executives International.  "At the same time, the Scorecard compliments FEI's advocacy efforts by providing feedback to lawmakers on FEI priorities, increasing their awareness of the implications of their votes."

The House and Senate were each scored on six individual votes that advanced FEI's priorities, including three bills that became law: repeal of the new 1099 reporting mandate from the 2010 health care overhaul bill; repeal of the three percent withholding requirement on government contracts that was set to go into effect in 2013; and pension funding stabilization. The Scorecard also recorded votes on the extension of the 2001/2003 individual tax rates, derivatives end-user legislation, and other business and individual tax provisions still pending in Congress.

Hollein added: "Despite Congress' low overall approval rating, FEI's Congressional Scorecard shows that the majority of lawmakers have voted with business and supported FEI's priorities more than half of the time.  It is worth noting that 48 percent of House members and 22 percent of senators have voted with FEI 100 percent of the time."

FEI's Congressional Scorecard has revealed the following:

• The overall House voting record in support of FEI positions is 83 percent, with Republicans voting with FEI 95 percent and Democrats 66 percent of the time.
• Of the 205 sitting members of Congress who have voted 100 percent with FEI, 186 are Republican and 19 are Democrats.
• The Senate's voting record is 59 percent, with Republican's voting pro-FEI priorities 89 percent of the time, Democrats 33 percent, and Independents 18 percent.
• The 22 Senators who have voted 100 percent pro - FEI priorities, are all Republican. Only three – Sen. Roger Wicker of Mississippi, Sen. Dean Heller of Nevada, and Utah's Orrin Hatch – are up for reelection in November.

Later this week, members of FEI's Committee on Private Company Policy and Private Company Roundtable will convene on Capitol Hill for the bi-annual Congressional Fly-in to converse about key legislative issues impacting private companies, including in-depth discussions on the approaching "fiscal cliff" and the likelihood of tax reform taking place in 2013.

To view the complete FEI Congressional Scorecard, find specific senators and members of Congress, and learn more about the FEI's priorities and votes recorded visit www.financialexecutives.org/scorecard.

About FEI
Financial Executives International is the leading advocate for the views of corporate financial management. Its 15,000 members hold policy-making positions as chief financial officers, treasurers and controllers at companies from every major industry. FEI enhances member professional development through peer networking, career management services, conferences, teleconferences and publications. Members participate in the activities of 86 chapters, 74 in the U.S., 11 in Canada and 1 in Japan. FEI is headquartered in Morristown, NJ, with additional offices in Washington, D.C. and Toronto. Visit www.financialexecutives.org for more information.

SOURCE FEI