Majority of lawmakers in 116th Congress are millionaires

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Joined: Sat Dec 12, 2020 1:42 pm

Majority of lawmakers in 116th Congress are millionaires

Post by Terry »

House Speaker Nancy Pelosi (D-Calif.) has seen her wealth increase to nearly $115 million from $41 million in 2004.

Senate Majority Leader Mitch McConnell (R-Ky.) saw his net worth increase from $3 million to over $34 million during that time.

The 116th Congress is flush with newcomers, and many of them have substantial cash.

Sen. Mitt Romney (R-Utah), a former private equity executive, is worth an estimated $174 million.
Sen. Mike Braun (R-Ind.), who spent $10.5 million of his own money boosting his 2018 campaign, is worth roughly $137 million.
Another self-funder and midterm winner, Rep. Dean Phillips (D-Minn.) holds an average of $124 million in net assets.

Two-term Rep. Paul Mitchell (R-Mich.) saw the largest growth in wealth between 2017 and 2018. The former for-profit college executive’s average net worth skyrocketed from $101 million to nearly $180 million.

Some longtime members of Congress watched their wealth rise to record levels in 2018.
Rep. Collin Peterson (D-Minn.) was worth an estimated $123,500 in 2008. The House Agriculture Committee chairman’s average net assets stood at $4.2 million as of his most recent financial disclosure.

Rep. Judy Chu (D-Calif.) was worth less than six figures in 2008. One decade later her estimated net worth sat at $7.1 million.

Sen. Roy Blunt (R-Mo.) increased his wealth from $602,000 to $10.7 million over the last decade.

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Re: Majority of lawmakers in 116th Congress are millionaires

Post by RAW »

How is it possible for a congress person, making a salary of less than $200,000 a year, to become a multi-millionaire in just a few years?? This just DOESN'T pass the smell test.

Something must be done!

Maybe part of the answer is to have term limits on all jobs in Congress. AND we need to replace all incumbents!
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