Democratic Rep. Jim Moran is taking up the cause of underpaid members of Congress, saying their six-figure salaries are insufficient to cover the cost of living in Washington, D.C.
“I think that the American people should know that the members of Congress are underpaid,” Moran told Roll Call. “And you know, I understand that it’s widely felt that they underperform, but the fact is that this is the board of directors for the largest economic entity in the world, and a lot of members can’t even afford to live decently when they’re at their job in Washington.”
Of course, like all Congressmen, Moran has found it easy to supplement his income with a a second job:
Moran has been accused of using his position in Congress for his own financial gain. In 2002, he supported a bill to overhaul the bankruptcy laws that was being heavily advocated by MBNA Corporation of Delaware, a credit card company who was found to have loaned Moran $447,500 “on what appeared to be highly favorable terms,” according to a New York Times article from the time.
Moran has also been accused — by author Peter Schweizer — of insider trading, allegedly using information he obtained in a congressional hearing to make more than 90 trades in a single day ahead of the 2008 financial collapse. Moran has denied wrongdoing.
Moran is retiring at the end of the year, and will undoubtedly make many more millions as a lobbyist, thank God, so he’ll finally be able to afford decent lodging – perhaps he’ll be a neighbor of Chris Dodd.