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Tri-State Congressional representatives include millionaires

July 05, 2011|By HEATHER KEELS | heather.keels@herald-mail.com

There are at least five millionaires among the six U.S. senators and three U.S. representatives representing the Tri-State area, according to their 2010 financial disclosure forms.

U.S. Sen. Jay Rockefeller, D-W.Va., topped the list with an estimated net worth of $60.6 million to $135.5 million or more. That figure did not include a family trust.

Exact net worth was unclear from the reports because they require Congress members to report only a value range for each asset and liability.

Net-worth ranges also topped the $1 million mark for U.S. Sen. Joe Manchin, D-W.Va.; U.S. Rep. Roscoe G. Bartlett, R-Md.; U.S. Sen. Benjamin L. Cardin, D-Md.; and U.S. Rep. Shelley Moore Capito, R-W.Va.

Sen. Barbara A. Mikulski, D-Md., and U.S. Sen. Robert P. Casey Jr., D-Pa., had more modest holdings. Mikulski’s totaled $156,018 to $517,000, and Casey’s was $129,019 to $563,000.

The annual salary for members of Congress is $174,000, with more for the speaker of the House, majority and minority leaders, and president pro tempore of the Senate.

Responding to a request for comment about Cardin’s wealth, spokeswoman Susan Sullam said in an emailed statement that the senator’s investments are mostly in retirement funds and family trusts, none of which he has control over.

“Sen. Cardin has been a public servant for more than 40 years and he is proud of his record of working for the people of Maryland,” Sullam wrote.

Staffers for Mikulski and Bartlett did not respond to requests for comment on the lawmakers’ finances.

Most of the Congress members’ investments were primarily in stocks and bonds, with the exception of Bartlett, whose roughly $2.4 million to $8.2 million net worth included 13 real estate properties, four of which earned rent in 2010.

Bartlett’s report shows he bought seven of those properties in 2010, paying a total of $580,007 to $1.3 million. Four are in Knoxville, Md., one in Frederick, Md., one in Annapolis and one in Mt. Pleasant, Md.

Bolstered by those new investments, Bartlett’s estimated net worth was up from his 2009 range of $1.8 million to $6.8 million. As of his 2009 financial disclosure, Bartlett owned eight properties.

The financial disclosure reports, which members of Congress are required to file each year, also include information on sources of income, positions held outside U.S. government, and travel payment and reimbursements.

According to the disclosures, in 2010:

• Bartlett received pensions from Johns Hopkins University Applied Physics Lab and the Maryland State Retirement System. He spent a week in Spain in February 2010, with a family member, at the expense of The Aspen Institute’s Congressional Program.

• Cardin received a $5,469 legislative pension from the State of Maryland. He was on nine boards and commissions, and three trusts and was a limited partner owning about 1 percent interest in a land-development partnership called Venture BG that leases land in Baltimore to Walmart and other businesses.

• Mikulski sat on boards or committees of eight nonprofit organizations and on the U.S. Naval Academy’s Board of Visitors. She has an agreement with a publisher for 50 percent of the proceeds from two books.

• Rockefeller held positions on the boards of 12 nonprofit organizations. His spouse earned a director’s fee from PepsiCo Inc. and a salary from the public broadcasting station WETA.

• Manchin — who was West Virginia’s governor until he won a special election in November 2010 to fill the seat of the late Sen. Robert C. Byrd — reported income from West Virginia’s Office of the Governor. His spouse received compensation from West Virginia University.

• Capito was a National Advisory Board Member for the University of Charleston. Her spouse earned salaries from United Bank and Citigroup Global Markets.

• U.S. Rep. Bill Shuster, R-Pa., spent a week in Israel in January 2010, with a family member, at the expense of the American Israel Educational Foundation. His spouse earned salaries from Golden Gate Ancillary LLC and Blair Family Solutions LLC.

• U.S. Sen. Patrick J. Toomey, R-Pa., reported retainers from the Lynde & Harry Bradley Foundation and MJR Financial Group, and a board fee from Team Capital Bank.

• Casey received a pension from the Pennsylvania State Retirement System, and was a member of the Lackawanna County Bar Association and the National Association for the Advancement of Colored People.

Estimated net worth of Congress members from the Tri-State area:

Maryland
• U.S. Rep. Roscoe G. Bartlett, R-Md., $2,432,016 to $8,180,000
• U.S. Sen. Benjamin L. Cardin, D-Md., $1,443,047 to $3,450,000
• U.S. Sen. Barbara A. Mikulski, D-Md., $156,018 to $517,000

West Virginia
• U.S. Sen. Jay Rockefeller, D-W.Va., $60,632,018 to $135,467,002+
• U.S. Sen. Joe Manchin, D-W.Va., $3,797,087 to $9,708,001+
• U.S. Rep. Shelley Moore Capito, R-W.Va., $1,086,060 to $3,193,000

Pennsylvania
• U.S. Rep. Bill Shuster, R-Pa., $669,034 to $1,848,999
• U.S. Sen. Patrick J. Toomey, R-Pa., $264,063 to $1,184,999
• U.S. Sen. Robert P. Casey Jr., D- Pa., $129,019 to $563,000

Calculated from asset and liability entries on 2010 financial disclosure statements on www.legistorm.com.

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