U.S. Rep. Vern Buchanan, R-Sarasota, is the 11th-wealthiest member of Congress, according to a new analysis by CQ Roll Call.
In all, four Florida members of the U.S. House of Representatives are among the 50 richest members of Congress.
Not only that, Florida holds claim to two slots on another list put out by CQ Roll Call: The 10 poorest members of Congress.
CQ Roll Call, a Washington-based political news organization, does the hard work each year of going through financial disclosure reports that members of the U.S. House and U.S. Senate file each year. The reports are maddeningly imprecise: assets are reported in broad ranges – i.e., an investment worth between $500,001 and $1 million – and some aren’t reported at all. The value of a federal retirement savings account is exempt from disclosure, as is the value of a personal residence. However, home mortgages must be reported, meaning “someone could appear quite poor, even if they have a ton of home equity,” CQ Roll Call says.
CQ Roll Call says it determines a “minimum net worth” by subtracting the total minimum value of all liabilities from the total minimum value of all assets.
With those caveats:
At the top of the list, as he was last year, is Rep. Darrell Issa, R-Calif., with a minimum net worth of $357.3 million.
As for the lawmakers from Florida, No. 11 on the national list is Buchanan, a Republican from Sarasota, with a net worth calculated at $37.2 million.
No. 17 is Rep. Alan Grayson, a Democrat from Orlando, with a net worth calculated at $26.2 million, up nearly $10 million from the previous year.
No. 29 is Rep. Curt Clawson, a Republican from southwest Florida, with a net worth calculated at $13.5 million.
No. 50 is Rep. Tom Rooney, a Republican from in the central part of the state whose district includes part of East Manatee, with a net worth calculated at $7.5 million.
At the other end of the range are two South Florida Democratic representatives: Alcee Hastings, from Miramar, and Debbie Wasserman Schultz, who is from Weston and also doubles as the chairwoman of the Democratic National Committee.
They are No. 2 and No. 3 on the 10 poorest members of Congress list; both were calculated to have a negative net worth.