[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/POLITICS/11/26/rangel.responds/art.charles.rangel.gi.jpg caption="U.S. Rep. Charles Rangel denies any ties between pledges for a project and preservation of a tax loophole."]
Julian E. Zelizer
Special to CNN
Congressman Charles Rangel's fate hangs in the balance as a report concerning the Ways and Means Committee chairman is being prepared for release in early January.
House Speaker Nancy Pelosi has said she is waiting for the report from the House Ethics Committee before deciding what to do about several allegations against Rangel.
He's under investigation for allegedly using formal letterhead to solicit donations to a school to be named in his honor; helping one donor's company keep a tax loophole; having unreported income from a vacation villa; and having several rent-controlled apartments at below market rates, including one set up for his campaign operations in violation of state and local laws.
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