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    Majority of US Congress millionaires

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    PressTV

    by PressTV

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    A recent analysis of personal financial disclosure data by the Center for Responsive Politics shows that the number of millionaires on Capitol Hill has grown and at least 268 US lawmakers out of 534 current members of Congress are millionaires.

    According to the study, the median net worth for all senators was $2.7 million in 2012 while members of the House had a median net worth of $896,000.

    The wealthiest member of US Congress was the Chairman of the House Oversight Committee, Rep. Darrel Issa (R-California), with a net worth of $464 million in 2012.

    Last year, the title of the richest US lawmaker was held by Re. Michael McCaul (R-Texas) whose 2011 average net worth was $500.6 million.

    The study also showed that Democrats and Republicans were about equally wealthy. Congressional Democrats had a median net worth of $1.04 million, compared to almost exactly $1 million for Republicans.

    The findings of the new analysis comes at a time when Hill lawmakers, who are seeking to remain in Congress after this year’s mid-term elections, are debating issues directly related to income inequality in the US.

    The Senate is currently debating a proposal to extend unemployment benefits for long-term unemployed Americans.

    Meanwhile, leaders of the House and Senate agriculture committees are set to announce a deal on a new multi-year farm bill that would cut $9 billion in funding for the food stamp program over the next ten years.