Most Members of Congress are Millionaires

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By Katie Long

Republican Congressman Darrell Issa gives a thumbs up as he waits for the former Governor of California Arnold Schwarzenegger's victory speech at a party in Los Angeles, in October 2003.

Photo by HECTOR MATA/AFP/Getty Images

Land of the free, home of the … rich Congress. Just as Congress is set to take on long-term unemployment benefits, the minimum wage, and food stamp legislation, they are also the richest they have ever been as a group. For the first time ever, most members of Congress are millionaires, according to a new report from the Center for Responsive Politics.

At least 268 of the 534 current members of Congress had an average net worth of $1 million or more in 2012, which amounts to just over half. The congressional median net worth was $1,008,767.

Democrats edged out Republicans just slightly, with a median net worth of $1.04 million to $1 million respectively. But the real contrast came between Senators and Representatives. The median net worth in the Senate was $2.7 million compared to $896,000 in the House. The richest subset was Republican Senators, whose median net worth was $2.9 million in 2012.

The top 10 richest members of Congress; Average Net Worth (rounded to the nearest million):

1. Darrell Issa (R-Calif); $464 million
2. Mark Warner (D-Va.); $257 million
3. Jared Polis (D-Colo.); $198 million
4. John K. Delaney (D-Md.); $155 million
5. Michael McCaul (R-Texas); $143 million
6. Scott Peters (D-Calif.); $112 million
7. Richard Blumenthal (D-Conn.); $103 million
8. Jay Rockefeller (D-W.Va.); $101 million
9. Vernon Buchanan (R-Fla.); $89 million
10. Nancy Pelosi (D-Calif.); $88 million

Check out the full list here, along with a breakdown of how Congress members make their money.

http://www.slate.com/blogs/the_slatest/2014/01/09/most_congress_members_are_millionaires_for_the_first_time_ever.html