WASHINGTON – New House Speaker John Boehner may not have the millions of his predecessor Nancy Pelosi, but financial disclosure forms show again that public service doesn't stop political leaders from amassing considerable private wealth.
All members of Congress must file the annual forms that list their major sources of earned and unearned income, primary assets and liabilities and privately funded gifts.
Here are summaries of the 2010 financial disclosure reports released Wednesday for House and Senate leaders, new Republican House committee chairman, new Democratic Senate committee chairmen, and presidential candidates.
Financial Disclosure Reports For Top Lawmakers
House Speaker John Boehner (R-Ohio)(01 of28)
Earned income: $193,400. Boehner was House minority leader in 2010Honoraria, all donated to charity: NoneMajor assets: Franklin Templeton Mutual Global Discovery fund, $100,001-$250,000; Henderson Global Investors International Fund, $100,001-$250,000; Harbor International Fund IRA, $100,001-$250,000; UBS Liquid Assets Fund IRA, $100,001-$250,000; 12 investments valued from $50,001-$100,000, including a Congressional Credit Union account, a state of Ohio public employees pension plan, and various funds and IRAs.Major sources of unearned income: Davis New York Venture Fund dividends/capital gains, $15,001-$50,000; American Funds' Growth Fund of America, dividends/capital gains, $15,001-$50,000.Major liabilities: None.Gifts: None.Narrative: Boehner reported 121 transactions in which he bought or sold investments. The largest were a sale of shares of American Funds' Growth Fund of America for $50,001-$100,000; purchase of shares in the Franklin Templeton Mutual Global Discovery Fund for $50,001-$100,000; and sale of shares in Vanguard's Selected Value Fund for $50,001-$100,000. He took a two-day trip to Palm Beach, Fla., in March 2010, sponsored by the conservative Club for Growth; the value of the trip was not disclosed.
House Majority Leader Eric Cantor (R-Va.)(02 of28)
Earned income: $174,000Honoraria, all donated to charity: None.Major assets: Arlington, Va., real estate, $500.001-$1 million; Loan to Richmond Resources Hickory Park, LLC for commercial real estate, $500,001-$1 million; loan to Richmond Resources Ltd for real estate development, $250,001 to $500,000; Water Tower Associates LLC stock, $250,001-$500,000; Band of America accounts, $250,000-$500,000; Media General deferred compensation stock, $250,001-$500,000.Major sources of unearned income: Rent from the Arlington property of $15,001-$50,000; Interest from the Virginia Credit Union accounts of $2,501-$5,000; Weyerhauser Company stock dividends, $2,501-$5,000Major liabilities: Bank of America mortgage on Arlington real estate, $250,001-$500,000Gifts: NoneNarrative: Cantor's wife, Diana, earned undisclosed salary from Alternative Investment Management, LLC and fees as a director or trustee for Media General, Inc., Domino's Pizza, Inc., and the Virginia Retirement System.
House Majority Whip Kevin McCarthy (R-Calif.)(03 of28)
Earned Income: $174,000Honoraria, all donated to charity: NoneMajor assets: Stake in various mutual funds and stocks, valued at $115,017-$485,000Major sources of unearned income: Dividends and interest from mutual funds and stocks, $1,814-$8,300Major liabilities: NoneGifts: NoneNarrative: McCarthy entered into a publishing agreement with Simon and Shuster on March 8, 2010, for the book, "Young Guns: A New Generation of Conservative Leaders," which was published in the fall. His co-authors were House Majority Leader Eric Cantor and Rep. Paul Ryan, R-Wisc., chairman of the House Budget Committee. McCarthy reported no book earnings during 2010.
Rep. Hal Rogers (R-Ky.), House Appropriations Committee Chair(04 of28)
Requested an extension of the May 15 filing deadline
Rep. Paul Ryan (R-Wis.), House Budget Committee Chair(05 of28)
Earned income: $174,000Honoraria, all donated to charity: $2,000 from the Economic Club of Sheboygan, for a speech May 10, 2010Major assets: A 20 percent interest in the Ryan-Hutter Investment Partnership, $250,001-$500,000; a 20 percent interest in the Ryan Limited Partnership, $100,001-$250,000; a college savings plan for daughter Elizabeth, $50,001-$100,000; and a college savings plan for son Charles, $100,001-$250,000.Major sources of unearned income: Investment income from the Ryan-Hutter Investment Partnership, $15,001-$50,000; investment income from the Ryan Limited Partnership, $5,001-$15,000Major liabilities: NoneGifts: NoneNarrative: Ryan was reimbursed by the Heritage Foundation, a conservative think tank, for travel, food and lodging for a trip between Charlottesville, Va., and Milwaukee, Wisc., in January 2010. Ryan's wife, Janna, is a partner in mining and oil companies in Madill, Okla.
Rep. Ileana Ros-Lehtinen (R-Fla.), House Foreign Affairs Committee Chair(06 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Miami, Fla., real estate, $500,002-$1 million; Metro Bank account, $100,000-$250,000Major sources of unearned income: Rent on Miami real estate, $30,000-$100,000Major liabilities: NoneGifts: NoneNarrative: Ros-Lehtinen's assets have changed little since her 2009 disclosure report.
Rep. Doc Hastings (R-Wash.), House Committee On Natural Resources Chair(07 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Trust from Columbia Basin Paper and Supply Co., $500,001-$1 million; Individual Retirement Account, $100,000-$250,000; Savings account, $50,000-$100,000Major sources of unearned income: Earnings on IRA, $15,001-$50,000; Washington state legislative pension, $2,370Major liabilities: NoneGifts: NoneNarrative: Hastings did not report any privately sponsored trips.
Rep. John Kline (R-Minn.), House Education And Workforce Committee Chair(08 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Four mutual funds, each valued at $1,000-$15,000; cash account, $1-$1,000Major sources of unearned income: Dividends and interest on mutual funds, $200-$1,600; interest on cash account, $1-$200Major liabilities: NoneGifts: NoneNarrative: Kline has military retirement income from his 25-year service in the U.S. Marine Corps. His wife owns a 534-acre farm in Houston, Minn., valued at $100,000-$250,000.
Rep. Dave Camp (R-Mich.), House Ways And Means Committee Chair(09 of28)
Requested an extension of the May 15 filing deadline
Rep. Fred Upton (R-Mich.), House Energy And Commerce Committee Chair(10 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Family trusts, $5 million-$25 millionMajor sources of unearned income: Dividends and interest from family trusts, $100,000-$1 millionMajor liabilities: Home equity credit line, between $15,001 and $50,000Gifts: NoneNarrative: Upton, a Whirlpool appliance heir, owns Whirlpool stock worth $1 million to $5 million. He also owns shares in several energy companies, such as General Electric and Chevron. His wife owns stock in Exxon Mobil and BP; and one of his children owns stock in Chesapeake Energy. Upton said his family trusts are "not managed or controlled by me."
Rep. Jo Bonner (R-Ala.), House Ethics Committee Chair(11 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: More than 2,400 acres of timberland in Wilcox County, Ala., $1 million-$5 million; another 78 acres of timberland in the same county, $100,000-$250,000Major sources of unearned income: Hunting leases on the timberland, $15,000-$50,000Major liabilities: Three revolving credit accounts, $15,000-$50,000 eachGifts: NoneNarrative: As chairman of the committee that judges potential conflicts of interest, Bonner owns no stock individually in any company, although his wife does. In addition to his land holdings, Bonner invests mainly in mutual funds.
Rep. Darrell Issa (R-Calif.), House Oversight And Government Reform Committee Chair(12 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Greene Properties, a commercial real estate company in Vista, Calif., and holdings in Putnam High Yield Trust Fund, each worth more than $50 millionMajor sources of unearned income: 11 investments, mostly in mutual funds, earned more than $1 million eachMajor liabilities: Greene Properties, personal note, more than $50 million; DEI LLC., personal note, $25 million-$50 millionGifts: NoneNarrative: Issa is one of the richest members of Congress. As chairman of the House Oversight and Government Reform Committee, his jurisdiction is so vast that it could potentially conflict with almost any source of income. Issa appears to avoid any obvious conflict because he does not own individual stocks. Most of Issa's investments last year were in two areas: high income mutual funds and companies that manage properties. Issa made his fortune as owner of the company that produces Viper car alarms. He no longer runs the firm, but remains a director of the parent electronics company, DEI Holdings. He also owns the company's corporate headquarters.In addition to Greene Properties and DEI, Issa has four other assets worth $25 million to $50 million each. He has 17 investments worth $5 million to $25 million. Issa received $825 for each of two appearances on the Bill Maher show.
Rep. Frank Lucas (R-Okla.), House Agriculture Committee Chair(13 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: About 1,300 acres of farmland in Roger Mills County, Okla., $600,003-$1.25 million; mineral rights to 103 acres in Roger Mills County, $250,001-$500,000Major sources of unearned income: Farm income of $50,001 to $100,000Major liabilities: Two mortgages on farmland in Roger Mills County, each $100,001-$250,000; line of credit from Farm Credit of Western Oklahoma, $100,001-$250,000Gifts: NoneNarrative: Lucas' family has been farming in Oklahoma for more than 100 years. In November, he and a family member were reimbursed for a trip to Istanbul by the Franklin Center for Global Policy Exchange, which brings together members of Congress and their foreign counterparts to discuss global issues.
Rep. Peter King (R-N.Y), House Homeland Security Committee Chair(14 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Chase Bank account, $50,000-$100,000; Astoria Federal Savings account, $50,000-$100,000; Nassau County Credit Union account, $1,000-$15,000.Major sources of unearned income: NoneMajor liabilities: NoneGifts: NoneNarrative: King's received $39,000 last year from New York's state retirement pension for his work for the Nassau County government in New York before he served in Congress. His wife, Rosemary, also received $9,000 from the state's pension fund.
Rep. Spencer Bachus (R-Ala.), House Financial Services Committee Chair(15 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Accounts with Congressional Federal Credit Union, Fidelity Investments and Regions bank, each less than $1,000.Major sources of unearned income: Earnings on credit union, Fidelity and Regions accounts, less than $200 each.Major liabilities: Loan from BBVA Compass Bank, $15,001-$50,000Gifts: NoneNarrative: Bachus' most valuable assets belong to his wife, Linda: An annuity from the Pacific Life Insurance Co., $250,001-$500,000; a Smith Barney IRA, $100,001-$250,000 and a rental property called Southwood Properties, $100,001-$250,000. The couple's largest source of unearned income is also owned by Linda: Rent totaling $2,501-$5,000 from Southwood Properties. The couple reported 28 sales and purchases of investment funds last year, with each transaction valued at less than $15,000
Rep. Michele Bachmann (R-Minn.), Presidential Candidate(16 of28)
Requested an extension of the May 15 filing deadline
Rep. Ralph Hall (R-Texas), House Science, Space And Technology Committee(17 of28)
Earned income: $174,000Honoraria: NoneMajor assets: Stock in Lakeside Bancshares Inc. of Rockwall, Texas, $250,001-$500,000; stock in North and East Trading Co., also of Rockwall, $250,001-$500,000Major sources of unearned income: Capital gains on the sale of a universal life insurance policy, $50,001-$100,000Major liabilities: NoneGifts: NoneNarrative: Hall received a $65,748 Texas legislative pension last year. His estimated net worth dropped significantly from 2009, mainly because a decline in the value of his stock in a bank in his hometown of Rockwall, near Dallas. Hall is president and director of Lakeside Bancshares Inc. and chairman and director of Lakeside National Bank. His bank stock was valued at $500,001 to $1 million in 2009, but dropped to $250,001 to $500,000 last year.Hall also is chairman and director of North and East Trading, a real estate and mineral development company. His 2010 disclosure doesn't include any liabilities, although in 2009 North and East Trading listed a loan of $100,001-$250,000. Hall owns half interest in a 152-acre farm in Hunt County, Texas, valued at $50,001 to$100,000.
Rep. John Mica (R-Fla.), House Transportation And Infrastructure Committee Chair(18 of28)
Earned income: $174,000Honoraria: NoneMajor assets: Winter Park, Fla., real estate, $1 million-$5 million; two lots in Blowing Rock, N.C., $500,000-$1 million; three rental units in a townhouse on Washington's Capitol Hill, $500,000-$1 millionMajor sources of unearned income: Rent from Washington townhouse, $15,000-$50,000; rent from another Capitol Hill property, $5,000-$15,000; rent from two condominiums in Maitland, Fla., $5,000-$15,000; interest from First Commercial Bank account in Winter Park, Fla., $5,000-$15,000.Major liabilities: Mortgage on the Winter Park condominiums, $15,000-$50,000Gifts: NoneNarrative: Mica's wealth is mostly real estate. His estimated net worth of $3 million-$9.3 million is a big jump over previous estimates, due mainly to his disclosure of the value of his Winter Park home. Previous disclosures listed the home, but not its worth. Mica's largest asset other than real estate was a bank account valued at $500,001-$1 million.
Rep. Lamar Smith (R-Texas), House Judiciary Committee Chair(19 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Half interest in Lamar Seeligson Ranch in Premont, Texas, $250,001-$500,000; McLean, Va., rental property, $500,001-$1 million; one-third interest in Barnstable, Mass., rental property, $250,001-$500,000; residential property in San Antonio, Texas, $250,001-$500,000; American Growth Fund, $50,001-$100,000Major sources of unearned income: Rents, royalties and surfaces leases of Lamar Seeligson Ranch, $50,001-$100,000; rental income, McLean, Va., house, $15,001-$50,000Major liabilities: Mortgage on rental property in McLean, Va., $100,001-$250,000.Gifts: NoneNarrative: Smith is worth more than $1.5 million, with most of it invested in real estate, stock and various retirement accounts. He reported that he and his wife hold securities with a total value of $1,098,000; he listed 599 trades last year involving scores of companies, including Apple Computer, Microsoft, Dreamworks Animation and Lockheed Martin. He said an account manager controls the couple's portfolio and makes all investment decisions.
Rep. Ron Paul (R-Texas), Presidential Candidate(20 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Properties in Lake Jackson, Texas, $350,002-$750,000Major sources of unearned income: Partnership income from farmland and rental property, $105,002-$1,015,000Major liabilities: Personal loan from First National Bank of Lake Jackson, $250,001-$500,000Gifts: NoneNarrative: Paul, an obstetrician, received a medical pension of $91,185 last year. He also owns land in Oyster creek, Texas, worth $50,001-$100,000, and a condominium in Alexandria, Va., worth $100,001 to $250,000.
Rep. Nancy Pelosi (D-Calif.), House Minority Leader(21 of28)
Earned income: $223,000. Pelosi was speaker in 2010.Honoraria, all donated to charity: NoneMajor assets: Home and vineyard in St. Helena, Calif., $5 million-$25 million; townhome in Norden, Calif., $1 million-$5 million; real estate in Napa, Calif., $500,000-$1 million.Major sources of unearned income: Rent from Napa real estate, $15,000-$50,000.Major liabilities: Mortgage on home and vineyard in St. Helena, $1 million-$5 million; mortgage on townhome in Norden, $500,000-$1 million; mortgage on Napa property, $250,000-$500,000Gifts: NoneNarrative: Much of the Pelosi family wealth is held by her husband, Paul, including commercial property in San Francisco valued at $5 million to $25 million. He's also a limited partner in residential real estate in Sacramento, valued at $5 million to $25 million, and he is a limited partner in Sacramento Mountain Lions, a team in the United Football League, which is valued at $5 million to $25 million. He listed 20 separate transactions that involved investments in the league as well as the team. Those investments totaled between $2.6 million and $5.2 million. Major sources of income attributed to her husband include $1 million to $5 million in capital gains from the sale of stock in Apple Inc., and $100,000 to $1 million from an investment in a resort in Rutherford, Calif.
Rep. Steny Hoyer (D-Md.), House Minority Whip(22 of28)
Earned income: $193,400Honoraria, all donated to charity: NoneMajor assets: Congressional Federal Credit Union account, $15,000-$50,000; Citibank NA Bank Deposit Program, $1,001-$15,000, Western Asset Government Money Market Fund, $1,001-$15,000, Teloknet stock, $1,001-$15,000Major sources of unearned income: Capital gains on Berkshire Income Realty, $2,501-$5,000; Dividends from Income Fund of America, $1,001-$2,500; Legg Mason Value Trust Fund dividends, $1,001-$2,500Major liabilities: NoneGifts: NoneNarrative: Hoyer's earned income in 2010 came from his salary as House Majority Leader, $193,400. With Democrats in the minority, he is now the Democratic whip. Hoyer also received a legislative pension of $20,481from the Maryland State Retirement Agency for his service the Maryland Senate. Hoyer owns a handful of stocks and investments in money market funds, but none greater than $15,000. Hoyer sold his interests in Berkshire Income Realty, valued at $1,001 to $15,000, Income Fund of America, valued at $50,001 to $100,000, the Investment Company of America, valued at $15,001 to $50,000 and the Legg Mason Value Trust Fund, valued at $100,001 to $250,000. All of the sale proceeds were applied to a Thrift Savings Plan.
Senate Majority Leader Harry Reid (D-Nev.)(23 of28)
Earned income: $193,400Honoraria, all donated to charity: NoneMajor assets: 160 acres in Bullhead City, Ariz., $1 million-$5 million; controlling interest in 55 acres in Reid's hometown of Searchlight, Nev., $250,001-$500,000; controlling interest in 47 acres in mining claims, $250,001-$500,000; Wells Fargo Tax Free Money Market Trust, $100,001-$250,000; Dow Jones U.S. Technology Sector Index Fund, $100,001-$250,000; controlling interest in mining claims in Searchlight, Nev., $100,001-$250,000Major sources of unearned income: Municipal government bonds, including four from Milwaukee and West Bend, Wis., Pierce County, Wash., and Washington County, Utah, each earning $2,501-$5,000Major liabilities: Campaign loan from Meadows Bank, $50,001-$100,000Gifts: A painting valued at $650 from the Rainbow Dreams Educational Foundation, a Las Vegas-based charity; and a Dec. 23 flight for Reid and his wife, Landra, to Reno, Nev., with Sen. Diane Feinstein, D-Calif., valued at $14,500.Narrative: Reid doesn't list any holdings of individual companies' stock, but his investment funds include some focusing on the health care, technology, financial, telecommunications and utilities sectors. The 58 separate assets he lists, while heavy on municipal bonds, land and mining claims, also include a mobile home worth $15,001-$50,000. He is president and sole beneficiary of the Harry Reid Ltd. Pension and Profit Sharing Plans, trustee of the Reid Family Revocable Trust Agreement, and a board member of the Kennedy Center for the Performing Arts in Washington D.C. He has an agreement to receive what are called "standard royalties" for his autobiography, "The Good Fight," with the proceeds donated to charity. No royalties were received last year.
Sen. Mitch McConnell (R-Ky.), Senate Minority Leader(24 of28)
Earned income: $193,400.Honoraria, all donated to charity: NoneMajor assets: Vanguard tax exempt money market fund, $5 million-$25 million, Vanguard 500 index fund, $1 million-$5 million, Sun Trust money market account, $1million-$5 million, and Washington, D.C. property, $1 million-$5 millionMajor sources of unearned income: Sun Trust money market earnings, $5,001-$15,000; rent from Washington property, $5,001-$15,000Major liabilities: NoneGifts: NoneNarrative: McConnell is married to Elaine L. Chao, who served as labor secretary under President George W. Bush and is a former president of the United Way of America. Chao's many paid endeavors added to the family's assets in 2010, though McConnell is not required to disclose the amounts. In 2010, Chao received a salary from The Heritage Foundation, where she is a distinguished fellow; fees from Keppler Associates, Fox News Network and Dole Foods, Inc.; and speaking fees from the University of Illinois, Vanguard, Executive Women of New Jersey, Corning, Inc., American Chamber of Commerce, Newington Cropsey Foundation and the University of St. Thomas.
Sen. Jon Kyl (R-Ariz.), Senate Minority Whip(25 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: Three Individual Retirement Accounts, $641,900; Bank of America savings account, $15,001-$50,000Major sources of unearned income: Earnings on IRAs, $4,669Major liabilities: NoneGifts: NoneNarrative: Kyl went far beyond the letter of the disclosure law, providing detailed statements from his IRA custodians of the actual values of his accounts, as well as a listing of all asset sales and purchases during the year. Lawmakers are required to report their assets, liabilities and unearned income only in broad ranges of values.
Sen. Dick Durbin (D-Ill.), Senate Majority Whip(26 of28)
Requested an extension of the May 15 filing deadline
Sen. Debbie Stabenow (D-Mich.), Senate Committee on Agriculture Chair(27 of28)
Earned income: $174,000Honoraria, all donated to charity: NoneMajor assets: NoneMajor sources of unearned income: NoneMajor liabilities: Credit union revolving line of credit, $15,000-$50,000Gifts: NoneNarrative: Stabenow earned $64,919 from the Michigan legislative pension program but listed no investment assets.
Sen. Tim Johnson (D-S.D.), Senate Banking Committee Chair(28 of28)
Earned income: NoneHonoraria, all donated to charity: NoneMajor assets: Two rental properties in Vermillion, S.D., $115,002 to $300,000; Bank of America money market account, $50,001-$100,000Major sources of unearned income: Rent from Vermillion properties, $10,002-$30,000Major liabilities: NoneGifts: NoneNarrative: Johnson's wife, Barbara, received consulting fees in excess of $1,000 from The Spectrum Group, a consulting and lobbying firm in Alexandria, Va.
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