More fat cats are roaming the halls of Congress. For the very first time, most Congressmen are millionaires.
The Center for Responsive Politics analyzed personal financial disclosure data filed last year by all Congressmen and candidates. The Center’s OpenSecrets Blog reported the findings:
Of 534 current members of Congress, at least 268 had an average net worth of $1 million or more in 2012, according to disclosures filed last year by all members of Congress and candidates. The median net worth for the 530 current lawmakers who were in Congress as of the May filing deadline was $1,008,767 — an increase from the previous year when it was $966,000. In addition, at least one of the members elected since then, Rep. Katherine Clark (D-Mass.), is a millionaire, according to forms she filed as a candidate. (There is currently one vacancy in Congress.)
Last year only 257 members, or about 48 percent of lawmakers, had a median net worth of at least $1 million.
Surprisingly, Congressional representatives of the party that claims to understand the problems of the poor had a higher median net worth than Republicans. Unsurprisingly, it pays to be a Senator. The fattest of the fat cats serve in the Senate.
Here’s a breakdown from OpenSecrets: