For the First Time, Half of Members of Congress are Millionaires…Democrats Worth more than Republicans.
Members of Congress continued to get richer last year, resulting in more than 50% of lawmakers possessing a net worth of $1 million or more—something that’s never happened before in congressional history.
Of 534 current members of Congress, at least 268 were millionaires, according the Center for Responsive Politics’ review of financial disclosure reports filed last year.
The median net worth for the 530 lawmakers who were in Congress as of the May 2013 filing deadline was $1,008,767—up from $966,000 during the previous year. The center also found that Democrats overall were a little wealthier than Republicans in Congress, $1.04 million versus $1 million.
Democrats in the House were richer than their GOP counterparts, $929,000 versus $884,000. In the Senate, the GOP caucus was noticeably wealthier than the Democratic caucus, $2.9 million versus $1.7 million.
Senate Democrats experienced a steep drop in their median net worth from $2.4 million in 2011, due in part to the loss of two multimillionaires: John Kerry of Massachusetts (net worth $248 million) and Frank Lautenberg of New Jersey ($87.5 million). Nonetheless, the four richest senators are still Democrats: Mark Warner of Virginia ($257 million), Richard Blumenthal of Connecticut ($104 million), Jay Rockefeller of West Virginia ($101 million) and Diane Feinstein of California ($68 million).
Sources—herman cain, darell issa, center for responsive politics