Sign in to comment!

Menu
Home

Career

Most Members of Congress are Millionaires

Capitol | Congress in the Rain

 (Reuters)

They are voted into office to serve in our interest, but most Congress members have a lot more zeros attached to their names than most Americans.  

A new report from the Center for Responsive Politics finds more than half of the members of the 113th Congress have an estimated net worth of more than $1 million. At least 268 of the 534 current members of Congress had an average net worth of $1 million or more in 2012.

The median net worth of a typical American household is about one- fifteenth of that, at $66,740, according to the most recent U.S. Census data.

The top two richest lawmakers on Capitol Hill are Rep. Michael McCaul, (R-TX), with an average net worth of $500.1 million, followed by Rep. Darrell Issa, (R-CA) at $480.3 million, the report states. The total net worth of Congress members in 2011 was about $4.5 billion.

Democrats in Congress also tend to be slightly wealthier, according to the report, with their median net worth at $990,508. This compares to a median of $907,014 for congressional Republicans.

Follow Kate Rogers on Twitter at @KateRogersNews

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.85% dw 3.86%  
15 Y Fixed Graph 2.97% up 2.94%  
30 Y Fixed Jumbo Graph 4.31% up 4.28%  
5/1 ARM Graph 3.15% up 3.08%  
5/1 Jumbo ARM Graph 3.84% dw 5.79%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.41% up 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.55% up 4.54%  
$50K Loan Graph 4.21% up 4.20%  
$75K Loan Graph 4.21% up 4.20%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.08% -- 3.08%  
36 M Used Graph 3.29% dw 3.30%  
48 M New Graph 3.06% -- 3.06%  
48 M Used Graph 2.96% -- 2.96%  
60 M New Graph 3.13% dw 3.14%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.37% up 0.36%  
1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.44% dw 1.48%