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Home > Blogs > Ohio politics > Archives > 2011 > June > 16 > Entry
How much are our Washington lawmakers worth?
By Jessica Wehrman Washington Bureau
WASHINGTON - House Speaker John Boehner and Sen. Rob Portman are among the wealthiest Ohioans serving in Congress, according to financial disclosure reports released by Congress this week.
Portman claimed assets worth between $6.3 million and $17.2 million. His largest asset: between $1 million and $5 million in Lebanon House Inc., a company that holds commercial properties in southern Ohio and Kentucky.
The Ohio Republican listed one liability - a line of credit worth between $1 million and $5 million. He told reporters Thursday that the line of credit was a construction loan that served as a bridge loan while the family worked to sell their house.
Boehner reported 121 transactions in which he bought or sold investments. He lists assets including in energy and pharmaceutical companies as well as Proctor & Gamble, Kroger and Walmart. He claimed assets worth at least $2 million, according to disclosure reports.
The West Chester Republican was one of a handful of lawmakers who sold BP stock after the Deepwater Horizon oil spill in 2010. He sold between $1,001 and $15,000 worth of BP stock in May 2010, according to his disclosure.
Disclosures were due May 16, but released by the House Wednesday. Four Ohioans - including Rep. Jean Schmidt, R-Loveland - successfully sought 30-day extensions. Among the highlights of other Ohio lawmakers’ filings:
• Rep. Jim Jordan, R-Urbana: Assets between $119,008 and $362,000. No liabilities. Assets included the Ohio Public Employees Deferred Compensation Fund and the Ohio State Teachers Retirement fund, as well as life insurance. No transactions.
• Rep. Mike Turner, R-Centerville: Assets between $219,071 and $1.3 million, much of it stock owned by his wife. No liabilities. Purchased stock in Sysco and Corning, sold stock in Apple, Devry, Norfolk Southern and Monsanto.
• Rep. Steve Austria, R-Beavercreek: Assets between $107,008 and $355,000. No liabilities. No transactions. Largest asset is Ohio Public Employee Retirement System account valued at between $100,001 and $250,000.
• Sen. Sherrod Brown, D-Ohio: Assets between $435,010 and $1 million. No liabilities. Sold 15 stocks on behalf of his mother’s estate. His largest asset is a stake in his family farm valued at between $250,001 and $500,000.
• Freshman Rep. Jim Renacci, Renacci, an Akron-area Republican, is one of a handful of multimillionaire freshmen in the House. He has tens of millions of dollars in assets, according to a review of his disclosure form. Renacci listed between $2 million and $10 million in liabilities, including two lines of credit worth between $1 million and $5 million.
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By Sharon Cottrell
June 23, 2011 10:49 AM | Link to this
Why should those in government be paid more than those who they work for? With some many out of work and having a tough time making it, we should cut their pay to match what the average person makes. If the people we have in Washington don’t want to work for the average wage, than lets put some in who will. I would be willing to take the job.
By Bill
June 18, 2011 7:52 AM | Link to this
Those that have will take care of those that have and won’t stop until the average worker knows his place and bows to their will. It’s quickly headed back to the day of only those of means have rights.
By Perspective
June 17, 2011 2:33 PM | Link to this
Hey JUDI,Nancy Pelosi is worth more than $35 million but you don’t seem to care about that.
By zilla
June 17, 2011 11:06 AM | Link to this
Awesome comments. So tell me critics, how would you, the average person, deal with the economic crisis facing our nation. As legislators how will you cut current spending while maintaining our economic growth? Also couple that with making sure our dollor leverages favorably against worldwide currencies so our buying power remains strong while still making our exports affordable… so geniuses, how does someone without a business degree and a strong understanding of the numerous economic variables do that? Or should we let those who understand personal success and business success legislate? I am not trying to be combative but the average person has no clue how to balance these things. In fact assuming that the average person can just illustrates the ignorance.
By JS
June 17, 2011 9:09 AM | Link to this
One thing I saw in the comments I’d like to discuss; the idea that because a man knows business, he is qualified to be in office. G.W. Bush had an MBA from Yale. He’d run many businesses and was worth quite a lot. Here’s the real question; Should government be run like a business? The answer is no. If you follow the trend of privatization, the services that have been outsourced to the private sector have become more expensive, not less. The government can be run well, but not with the current system of selling political influence to the highest bidder.
By Melody
June 17, 2011 8:01 AM | Link to this
Top 5 wealthiest congressmen…4 Democrats, one Republican. Top is Kerry. The wealth of all congressmen grew between 2008-09 while other Americans lost much. Google it. Article by CBS in November 2010.
By JUDI
June 16, 2011 9:14 PM | Link to this
These are NOT the types of people who should manage ANYTHING in this state or country. They are sooooo far out of the loop of the average American…….. I could care less how much they’re worth. My mother’s worked and saved all her life to get her “over a million” but she doesn’t try to screw everybody over, lie, follow the party line, and basically try to bring this country to it’s knees just because “she can.” Or the Kochs told her to.
By Me
June 16, 2011 9:11 PM | Link to this
I wonder if that is why all of the wealthy people are getting tax breaks??? I’m just saying!!
By zilla
June 16, 2011 8:23 PM | Link to this
OK, we can whine all we want about how much money or assets they have but do we really want those with just average success in wealth managing our interests? Heck I’m not a Republican and can’t stand Boehner but the man knows business. Sorry gang but those are the type of persons who should manage government, not the average Joe plumber types. And don’t even start on corruption because ALL politicians are corrupt.
By Hank
June 16, 2011 7:49 PM | Link to this
Yep …. No doubt about it …Portman and John Boehner are multi-millionaires . Don’t talk about it because Boehner will start crying while millions of Americans are without medical insurance or retirement funds . Just follow the money !
By David Esrati
June 16, 2011 7:43 PM | Link to this
They serve in the “House of Representatives” yet none have liabilities? How representative is that?