Most Members of Congress are Millionaires
Posted at 12:10 p.m. on Jan. 10, 2014
As the Congress looks at the issues of poverty and income inequality, a new study shows most members of Congress are millionaires.
“Of 534 current members of Congress, at least 268 had an average net worth of $1 million or more in 2012, according to disclosures filed last year by all members of Congress and candidates. The median net worth for the 520 current lawmakers who were in Congress as of the May filing deadline was $1,008,767 – an increase from the previous year when it was $966,000.”
“Despite the fact that polls show how dissatisfied Americans are with Congress overall, there’s been no change in our appetite to elect affluent politicians to represent our concerns in Washington,” stated Sheila Krumholz, executive director of the Center for Responsive Politics, which published the study.
The number of millionaires in Congress can often be understated since the disclosure requirements for the personal wealth of members of Congress do not require the listing of personal residences, often the largest asset of a family.
Political MoneyLine’s financial profile of each member of Congress includes the personal financial report as well as a notation of the assessed tax value of their residence in the metropolitan D.C. area.
View Roll Call’s 50 Richest Members of Congress.
To search detailed money-in-politics databases, visit Political MoneyLine.