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

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How much are [[United States Senate|Senators]] and [[United States House of Representatives|Representatives]] worth?  
 
How much are [[United States Senate|Senators]] and [[United States House of Representatives|Representatives]] worth?  
 
==Average worth==
 
==Average worth==
Based on data for the years 2004 to 2010 from OpenSecrets.org - The Center for Responsive Politics  
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Based on data for the years 2004 to 2011 from OpenSecrets.org - The Center for Responsive Politics  
  
 
U.S. Congress
 
U.S. Congress
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! align="center" style="background:#f0f0f0;"|Average Total Net Worth
 
! align="center" style="background:#f0f0f0;"|Average Total Net Worth
 
! align="center" style="background:#f0f0f0;"|Average
 
! align="center" style="background:#f0f0f0;"|Average
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|-align=center
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| 2011||627||$4,946,090,771 ||$7,888,502
 
|-align=center
 
|-align=center
 
| 2010||641||$4,680,278,853 ||$7,301,527
 
| 2010||641||$4,680,278,853 ||$7,301,527

Revision as of 11:39, 4 March 2013

Portal:Congress
Features of Congress

Background
Federal Election CommissionDemocratic Congressional Campaign CommitteeNational Republican Congressional CommitteeFiling requirements for congressional candidatesClasses of United States SenatorsFilling vacancies in the U.S. SenatePresident Pro Tempore of the SenateUnited States Speaker of the HouseFilibuster

Sessions
113th Congress112th Congress111th Congress110th Congress

Analysis
Lifetime voting recordsNet worth of United States Senators and RepresentativesStaff salaries of United States Senators and RepresentativesNational Journal vote ratings

How much are Senators and Representatives worth?

Average worth

Based on data for the years 2004 to 2011 from OpenSecrets.org - The Center for Responsive Politics

U.S. Congress

Year # of Reports Average Total Net Worth Average
2011 627 $4,946,090,771 $7,888,502
2010 641 $4,680,278,853 $7,301,527
2009 652 $4,271,710,652 $6,551,703
2008 600 $3,834,468,090 $6,390,780
2007 603 $4,633,904,377 $7,684,750
2006 594 $3,979,189,252 $6,698,972
2005 542 $3,459,576,717 $6,382,983
2004 580 $3,533,674,470 $6,092,542

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

U.S. Senate

Year # of 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 # of 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 # of 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 # of 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 # of 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 # of 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 # of 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 # of 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
Mitch McConnell (R-Ky) $27,213,024

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
Carte Goodwin (D-WVa) $213,003

Top 10 Representatives in 2010

Representative 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

Representative 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 Rank Senate Report Count House Average House Rank House Report Count Congressional Average Congressional Rank
Alabama $12,091,528 10 2 $3,215,861 23 10 $4,695,139 21
Alaska $1,970,522 39 2 $840,003 43 1 $1,593,682 43
Arizona $8,347,188 17 2 $4,185,146 20 11 $4,825,460 19
Arkansas $1,760,671 42 3 $911,462 42 6 $1,194,532 46
California $36,247,813 6 2 $19,011,110 1 54 $19,626,706 2
Colorado $6,815,519 21 2 $17,326,016 2 9 $15,415,017 5
Connecticut $25,599,380 9 3 $4,336,910 17 5 $12,310,336 9
Delaware $4,944,128 23 2 $4,482,799 15 2 $4,713,464 20
Florida $1,807,842 41 3 $8,592,209 6 33 $8,026,845 14
Georgia $6,156,281 22 2 $3,020,105 24 15 $3,389,067 28
Hawaii $2,088,507 38 2 $1,779,343 33 3 $1,903,008 39
Idaho $27,405,345 8 2 $2,879,457 26 3 $12,689,812 8
Illinois $788,854 46 3 $1,743,232 34 22 $1,628,706 42
Indiana $4,130,016 27 3 $518,717 47 12 $1,240,977 45
Iowa $9,889,802 13 2 $1,453,488 38 5 $3,863,863 25
Kansas $2,410,021 35 3 $318,426 50 6 $1,015,624 49
Kentucky $9,839,845 14 3 $2,904,649 25 6 $5,216,381 18
Louisiana $2,163,021 37 2 $2,734,201 27 9 $2,630,350 32
Maine $9,797,764 15 2 $637,006 45 2 $5,217,385 17
Maryland $1,907,024 40 2 $1,346,666 39 9 $1,448,549 44
Massachusetts $116,632,694 1 2 $1,685,147 36 11 $19,369,385 3
Michigan $831,004 45 2 $2,156,254 30 20 $2,035,776 37
Minnesota $4,736,020 24 2 $1,322,733 40 9 $1,943,330 38
Mississippi $1,116,774 43 2 $1,037,091 41 6 $1,057,012 48
Missouri $10,701,880 11 3 $1,798,356 32 10 $3,853,016 26
Montana $613,004 48 2 $4,988,504 11 1 $2,071,504 36
Nebraska $7,561,034 19 2 $346,510 49 3 $3,232,319 30
Nevada $4,085,714 28 3 $4,811,622 12 3 $4,448,668 23
New Hampshire $3,352,185 32 3 $1,960,255 31 4 $2,556,796 34
New Jersey $42,997,809 4 2 $4,762,553 13 14 $9,541,960 11
New Mexico $9,401,327 16 2 $7,583,005 7 3 $8,310,334 13
New York $924,506 44 2 $4,727,549 14 34 $4,516,269 22
North Carolina $10,167,193 12 2 $1,512,417 37 14 $2,594,264 33
North Dakota $8,319,031 18 3 $16,928,298 3 2 $11,762,738 10
Ohio $3,823,189 29 3 $3,310,387 22 22 $3,371,923 29
Oklahoma $7,239,573 20 2 $1,688,094 35 6 $3,075,963 31
Oregon $4,243,765 26 2 $4,096,769 21 4 $4,145,767 24
Pennsylvania $2,389,016 36 3 $2,309,010 29 24 $2,317,899 35
Rhode Island $4,725,817 25 2 $7,020,505 8 3 $6,102,629 16
South Carolina $461,144 49 2 $4,291,085 18 10 $3,652,762 27
South Dakota $625,514 47 2 $680,005 44 2 $652,759 50
Tennessee $41,044,023 5 2 $4,266,256 19 13 $9,169,958 12
Texas $2,818,023 34 2 $15,022,265 4 35 $14,362,576 7
Utah $2,890,687 33 3 $503,340 48 3 $1,697,013 40
Vermont $279,254 50 2 $4,396,553 16 1 $1,651,687 41
Virginia $99,431,099 2 2 $2,645,125 28 14 $14,743,372 6
Washington $3,540,007 30 2 $567,831 46 10 $1,063,194 47
West Virginia $35,482,519 7 3 $5,811,112 10 4 $18,527,429 4
Wisconsin $65,521,006 3 3 $6,684,604 9 10 $20,262,235 1
Wyoming $3,444,520 31 2 $14,822,011 5 1 $7,237,017 15

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"