The ethics committee's announcement raised doubts about whether it could complete its probe of Rangel before the new congressional session begins in January, Politico reported Wednesday.
In a statement, the panel said it authorized an investigative subcommittee to examine whether Rangel violated House rules after allegations surfaced that he helped a million-dollar donor to the Charles B. Rangel Center at City College of New York retain a lucrative tax break.
At Rangel's request, the ethics committee began investigating his personal finances in late September. Media reports have detailed Rangel's control of several rent-stabilized units in a Harlem apartment building where he lives, his failure to pay taxes on $75,000 in income on a Dominican Republican vacation home and his alleged use of official congressional stationery as part of his fundraising efforts.
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