Majority In Congress Are Millionaires
Filed by KOSU News in Politics.
January 13, 2014
For the first time in history, more than half the members of Congress are millionaires, according to a new analysis of financial disclosure reports conducted by the non-partisan Center for Responsive Politics.
Of the 534 current members of the House and Senate, 268 had an average net worth of $1 million or more in 2012 – up from 257 members in 2011. The median net worth for members of the House and Senate was $1,008,767.
The wealthiest member of Congress? That’s Rep. Darrell Issa, a California Republican, who had a net worth between $330 and $598 million.
The reports found that there wasn’t much distinction between the two parties – congressional Democrats had a median net worth of $1.04 million as compared to about $1 million for Republicans. In both cases, the averages are up from last year, when the numbers were $990,000 and $907,000, respectively.
The release of this analysis comes at a time when officials in both parties are making an effort to address income inequality in the United States. [Copyright 2014 NPR]