Rangelgate

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Northern Manhattan congressman Charles Rangel is currently being investigated by a House ethics committee for accepting donations from a company receiving tax breaks, which he had facilitated, for a center at City College that will carry Rangel's name. Last week The New York Times reported on Rangel's shifting positions regarding the taxation of companies that left the United States in 2002, in the wake of 9/11, to avoid tax increases then being proposed by congress. At the center of the controversy is a company, Nabors Industries, whose chief executive donated large amounts of money to CCNY (The City College of New York) for a graduate school being planned that will carry Rangel's name.

Eugene Isenberg, chief executive of Nabors Industries, donated $100,000 to CCNY for a planned graduate program titled "The Charles B. Rangel Center for Public Service." $1 million in donations were promised by Isenberg in 2006, this donation following that promise. As this was happening Rangel's policy shifted, with him now against retroactive tax increases for companies like Nabors which ignored congress and conducted business outside of the country.
Rangel's�response�to the Times was�completely torn apart�by the paper yesterday, which basically re-stated facts from the original article by littering Rangel's response with citations corresponding to their rebuttals of Rangel's letter to the editor.�

Did congressman Rangel save Nabors millions of dollars in taxes as a good gesture to get some cash for The Rangel Center? Or is this all just one big misunderstanding?

Hopefully we'll have an official answer soon. A House ethics committee has�been investigating Rangel for months�already. With his portfolio of scandals now taking an uglier form Nancy Pelosi and the Democrats are under more pressure to sort out the northern Manhattan congressman soon. If not they face a potentially�embarrassing�situation if the investigation shows no results.

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