Money and Power in Congress

It’s all a tale of money and power. Roll call is out with a new tally of the wealthiest and most senior members of the Congress. Here’s what they had to say about their compilation of data:

The table below lists the minimum value of the assets and liabilities of Members of the House of Representatives as reported on their 2009 financial disclosure forms (covering calendar year 2008). Assets include stocks, bank accounts, rental properties and other income-producing holdings; liabilities are most frequently mortgages and other bank loans. Assets and liabilites are reported in broad ranges; this table uses the minimum of all reported ranges and subtracts liabilities from assets to produce a minimum net worth. See story for details.

Seniority is each Member’s ranking in the House, as reported by the Clerk of the House.

The total wealth of all house members exceeds $1 billion. Our most senior member in the House is actually Congressman Chris Smith who comes in at 24. Congressman Frelinghuysen is our wealthiest official and is actually ranked 14th in the entire Congress at over $18 million net worth. And how does that compare to the rest of the delegation:

Frelinghuysen, who belongs to a political dynasty that dates back more than two centuries, has nine times the minimum net worth of the next richest member from New Jersey, Steve Rothman (D-Englewood).  

Rothman has a minimum net worth of $2.1 million, followed by Bill Pascrell (D-Parterson) with $1.85 million, Leonard Lance (R-Clinton) with $1.59 million, Rush Holt (D-Princeton) with $899,000, John Adler (D-Cherry Hill) with $702,000, Donald Payne (D-Newark) with $346,000, Frank LoBiondo (R-Vineland) at $270,000,  Chris Smith (R-Hamilton) with $113,000, Albio Sires (D-West New York) with $87,000, Frank Pallone (D-Long Branch) with $88,000, Scott Garrett (R-Wantage) with $80,000 and Rob Andrews (D-Haddon Heights) with $31,000.

Here are the complete New Jersey numbers: (The Assets, Liabilities and Minimum Net Worth are in $ thousands )

Last
Seniority
Assets

   

Liabilities

   

Minimum Net Worth

   

Lance 403 1,593 0 1,595
Pallone 51 113 25 88
Holt 191 1,499 600 899
Pascrell 166 1,858 0 1,858
LoBiondo 131 370 100 270
Andrews 65 46 15 31
Payne 57 461 115 346
Rothman 169 2,099 0 2,099
Adler 377 712 10 702
Garrett 259 80 0 80
Smith 24 113 0 113
Sires 319 97 0 97
Frelinghuysen 124 18,153 0 18,153

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