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Difference between revisions of "Net worth of United States Senators and Representatives"

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==Data and methodology==
 
==Data and methodology==

Revision as of 13:08, 8 July 2012

Portal:Congress

How much are Senators and Representatives worth?

Average worth

Based on data for the years 2004 to 2010 from OpenSecrets.org - The Center for Responsive Politics

U.S. Senate

Year # in Senate Reports Senate Average Senate Std Dev
2010 116 $13,224,333 $34,978,652
2009 116 $13,229,651 $35,913,577
2008 110 $13,835,333. $38,866,085
2007 106 $17,170,451 $49,007,497
2006 107 $14,106,027 $44,182,270
2005 101 $14,553,612 $41,993,697
2004 105 $14,455,289 $41,653,112

U.S. House of Representatives

Year # in House Reports House Average House Std Dev
2010 525 $5,992,869 $31,436,123
2009 536 $5,106,476 $22,809,386
2008 490 $4,719,554 $20,389,871
2007 497 $5,661,643 $27,941,584
2006 487 $5,071,549 $25,944,515
2005 441 $4,511,705 $23,266,505
2004 475 $4,243,935 $17,715,187

Note: Report numbers may reflect incoming and outgoing members of congress.

Democrats

U.S. Senate Democracts

Year # in Senate Reports Senate Average
2010 59 $19,383,524
2009 62 $18,937,920
2008 58 $19,758,117
2007 53 $26,454,480
2006 50 $22,523,538
2005 44 $24,796,538
2004 50 $21,624,612

U.S. House of Representatives Democrats

Year # in House Reports House Average
2010 266 $4,465,875
2009 273 $4,399,028
2008 271 $3,754,728
2007 275 $4,666,911
2006 244 $3,639,139
2005 206 $2,938,156
2004 225 $2,583,214

Note: Report numbers may reflect incoming and outgoing members of congress.

Republicans

U.S. Senate Republicans

Year # in Senate Reports Senate Average
2010 55 $7,054,258
2009 53 $6,799,690
2008 50 $7,472,817
2007 51 $8,155,252
2006 56 $6,834,723
2005 55 $6,858,820
2004 54 $8,080,791

U.S. House of Representatives Republicans

Year # in House Reports House Average
2010 259 $7,561,133
2009 263 $5,840,823
2008 219 $5,913,470
2007 222 $6,893,857
2006 242 $6,535,975
2005 234 $5,915,700
2004 249 $5,761,167

Note: Report numbers may reflect incoming and outgoing members of congress.

Independents

U.S. Senate Independents

Year # in Senate Reports Senate Average
2010 2 $1,205,273
2009 1 $105,003
2008 2 $1,137,522
2007 2 $1,031,270
2006 1 $423,504
2005 2 $816,019
2004 1 $212,006

U.S. House of Representatives Independents

Year # in House Reports House Average
2010 0 N/A
2009 0 N/A
2008 0 N/A
2007 0 N/A
2006 1 $188,504
2005 1 $128,001
2004 1 $115,501

Note: Report numbers may reflect incoming and outgoing members of congress.

Top and bottom

Top 10 Senators in 2010

Senator Average Net Worth
John Kerry (D-Mass) $231,722,794
Mark Warner (D-Va) $192,730,605
Herb Kohl (D-Wis) $173,538,010
Jay Rockefeller (D-WVa) $99,057,011
Frank R. Lautenberg (D-NJ) $85,572,116
Richard Blumenthal (D-Conn) $73,151,590
Dianne Feinstein (D-Calif) $69,046,622
Bob Corker (R-Tenn) $59,550,022
James E. Risch (R-Idaho) $54,088,026

Bottom 10 Senators in 2010

Senator Average Net Worth
Deborah Ann Stabenow (D-Mich) -$32,500
Mark Pryor (D-Ark) $8,500
Mike Lee (R-Utah) $16,001
James W. DeMint (R-SC) $40,501
Russ Feingold (D-Wis) $75,500
Max Baucus (D-Mont) $85,005
Mark Kirk (R-Ill) $89,002
Patrick Leahy (D-Vt) $129,503
Roger Wicker (R-Miss) $133,008

Top 10 Representatives in 2010

Senator Average Net Worth
Darrell Issa (R-Calif) $448,125,017
Michael McCaul (R-Texas) $380,411,527
Jane Harman (D-Calif) $326,844,751
Jared Polis (D-Colo) $143,218,562
Vernon Buchanan (R-Fla) $136,152,641
Nancy Pelosi (D-Calif) $101,123,032
Alan Grayson (D-Fla) $93,896,519
Kenny Marchant (R-Texas) $49,340,275
Gary Miller (R-Calif) $46,008,028
Rodney Frelinghuysen (R-NJ) $42,900,594

Bottom 10 Representatives in 2010

Senator Average Net Worth
Alcee L. Hastings (D-Fla) -$4,732,002
Steve Fincher (R-Tenn) -$3,302,503
Ruben Hinojosa (D-Texas) -$2,500,488
John Salazar (D-Colo) -$474,501
Laura Richardson (D-Calif) -$383,496
Bart Stupak (D-Mich) -$178,996
Terri Sewell (D-Ala) -$173,493
Sean P. Duffy (R-Wis) -$167,497
Sanford D. Bishop, Jr. (D-Ga) -$159,496
Patrick J. Murphy (D-Pa) -$154,502

Congressional freshmen

Using lists of congressional freshmen available on Wikipedia as a general starting point for data restriction, the following information for true congressional freshmen (i.e., congressmen who were not in a congressional seat the year before) for 109th[1], 110th[2], and 111th[3] Congresses:

109th Congress

January 3, 2005 to January 3, 2007

Year[4] Number of True Freshmen Reports[5] Average Net Worth Change from previous year
2004 44 $3,133,813 --
2005 45 $3,219,896 2.75%
2006 45 $3,233,137 0.41%
2007 40 $4,209,184 30.19%
2008 40 $3,854,689 -8.42%
2009 39 $6,047,795 56.89%
2010 38 $12,939,172 113.95%

110th Congress

January 3, 2007 to January 3, 2009

Year[4] Number of True Freshmen Reports[5] Average Net Worth Change from previous year
2006 58 $5,386,525 --
2007 75 $5,840,167 8.42%
2008 75 $4,719,385 -19.19%
2009 69 $5,058,388 7.18%
2010 68 $5,192,922 2.66%

111th Congress

January 3, 2009 too January 3, 2011

Year[4] Number of True Freshmen Reports[5] Average Net Worth Change from previous year
2007 59 $12,876,803 --
2008 72 $10,209,940 -20.71%
2009 81 $9,666,020 -5.33%
2010 79 $8,913,200 -7.79%

State Averages

2010

Estimate Congressional Averages by State (2010)
State Senate Average Senate Report Count House Average House Report Count Congressional Average
Alabama $12,091,528 2 $3,215,861 10 $4,695,139
Alaska $1,970,522 2 $840,003 1 $1,593,682
Arizona $8,347,188 2 $4,185,146 11 $4,825,460
Arkansas $1,760,671 3 $911,462 6 $1,194,532
California $36,247,813 2 $19,011,110 54 $19,626,706
Colorado $6,815,519 2 $17,326,016 9 $15,415,017
Connecticut $25,599,380 3 $4,336,910 5 $12,310,336
Delaware $4,944,128 2 $4,482,799 2 $4,713,464
Florida $1,807,842 3 $8,592,209 33 $8,026,845
Georgia $6,156,281 2 $3,020,105 15 $3,389,067
Hawaii $2,088,507 2 $1,779,343 3 $1,903,008
Idaho $27,405,345 2 $2,879,457 3 $12,689,812
Illinois $788,854 3 $1,743,232 22 $1,628,706
Indiana $4,130,016 3 $518,717 12 $1,240,977
Iowa $9,889,802 2 $1,453,488 5 $3,863,863
Kansas $2,410,021 3 $318,426 6 $1,015,624
Kentucky $9,839,845 3 $2,904,649 6 $5,216,381
Louisiana $2,163,021 2 $2,734,201 9 $2,630,350
Maine $9,797,764 2 $637,006 2 $5,217,385
Maryland $1,907,024 2 $1,346,666 9 $1,448,549
Massachusetts $116,632,694 2 $1,685,147 11 $19,369,385
Michigan $831,004 2 $2,156,254 20 $2,035,776
Minnesota $4,736,020 2 $1,322,733 9 $1,943,330
Mississippi $1,116,774 2 $1,037,091 6 $1,057,012
Missouri $10,701,880 3 $1,798,356 10 $3,853,016
Montana $613,004 2 $4,988,504 1 $2,071,504
Nebraska $7,561,034 2 $346,510 3 $3,232,319
Nevada $4,085,714 3 $4,811,622 3 $4,448,668
New Hampshire $3,352,185 3 $1,960,255 4 $2,556,796
New Jersey $42,997,809 2 $4,762,553 14 $9,541,960
New Mexico $9,401,327 2 $7,583,005 3 $8,310,334
New York $924,506 2 $4,727,549 34 $4,516,269
North Carolina $10,167,193 2 $1,512,417 14 $2,594,264
North Dakota $8,319,031 3 $16,928,298 2 $11,762,738
Ohio $3,823,189 3 $3,310,387 22 $3,371,923
Oklahoma $7,239,573 2 $1,688,094 6 $3,075,963
Oregon $4,243,765 2 $4,096,769 4 $4,145,767
Pennsylvania $2,389,016 3 $2,309,010 24 $2,317,899
Rhode Island $4,725,817 2 $7,020,505 3 $6,102,629
South Carolina $461,144 2 $4,291,085 10 $3,652,762
South Dakota $625,514 2 $680,005 2 $652,759
Tennessee $41,044,023 2 $4,266,256 13 $9,169,958
Texas $2,818,023 2 $15,022,265 35 $14,362,576
Utah $2,890,687 3 $503,340 3 $1,697,013
Vermont $279,254 2 $4,396,553 1 $1,651,687
Virginia $99,431,099 2 $2,645,125 14 $14,743,372
Washington $3,540,007 2 $567,831 10 $1,063,194
West Virginia $35,482,519 3 $5,811,112 4 $18,527,429
Wisconsin $65,521,006 3 $6,684,604 10 $20,262,235
Wyoming $3,444,520 2 $14,822,011 1 $7,237,017

2009

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2008

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2007

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2006

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2005

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2004

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Data and methodology

Data

Every year members of congress are required by law to disclose certain financial information regarding personal assets and liabilities. OpenSecrets.org (The Center for Responsive Politics), a self-proclaimed "nonpartisan guide to money's influence on U.S. elections and public policy," tracks the financial information, and posts it publicly under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. That data, currently available for the years 2004 to 2010, is listed in part below in the section Individual data.

Congressional financial disclosure forms use value ranges, rather than precise amounts, when reporting assets and liabilities. OpenSecrets gathers this information to build a range of potential values. For instance, if three assets are listed at a value range of $1,001-$15,000, the total range of assets would be listed as a minimum of $3,003 (3 X $1,001) and a maximum value would be $45,000 (3 X $15,000). OpenSecrets combines all assets and liability to form a total potential range of values, and then provides an average value as the best guess of each individual's net worth.[6]

Analysis

Ballotpedia staff took OpenSecrets predicted net worth averages for all reported members of congress and using statistical software calculated yearly averages and changes for various congressional subsets.

Limitations

OpenSecrets notes some important limitations to the data:[6]

  • Data is not available for a limited number of congressional members.
  • The top range for item valuation is listed as "Over $50 million" on forms. When possible OpenSecrets tried to determine a more accurate figure.
  • The top range for Senate spousal assets is listed as Over $1 million." When possible OpenSecrets tried to determine a more accurate figure.
  • Property (such as personal residences) and non-income producing investments are not required to be reported under ethics laws. However, all mortgages are required to be disclosed.

Individual data

Senate

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House of Representatives

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Former congressional members in the Executive Branch

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See also

External links


Disclaimer: All data relating to the the average net worth of individual members of congress from OpenSecrets.org/ The Center for Responsive Politics is posted under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. All other content, including data analysis of net worth change, is posted under Ballotpedia's standard content license.

References

  1. Wikipedia, "List of freshman class members of the 109th United States Congress," accessed: June 28, 2012
  2. Wikipedia, "List of freshman class members of the 110th United States Congress," accessed: June 28, 2012
  3. Wikipedia, "List of freshman class members of the 111th United States Congress," accessed: June 28, 2012
  4. 4.0 4.1 4.2 Reports from the financial year before members entered congress are included when available
  5. 5.0 5.1 5.2 The number of reports may include individuals who entered after the beginning of the congressional session and members who later became members of the executive branch.
  6. 6.0 6.1 OpenSecrets.org, "About the Personal Finances Data & CRP's Methodology"