In our chapter on
Congress, we discuss the economic and
demographic differences between the lawmakers and average citizens.
The Center for Responsive Politics reports:
For the first time in history, most members of Congress are millionaires, according to a new analysis of personal financial disclosure data by the Center for Responsive Politics.
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.
