How Much Money Are Your Lawmakers Worth?

July 30, 2014

For most state lawmakers, 2013 was another good year financially, regardless of party.

Still, those with an “R” affixed to their names are doing better, in general, when it comes to the bottom line thanks mostly to stronger housing and stock markets.

Updated financial-disclosure reports for 2013 were due July 1. And from the reports posted online, the average net worth in the Senate is just under $3.77 million, while the average net-worth figure is a little more than $1.4 million in the House.

Among local members of the legislature:

  • Greg Evers, R-Baker listed a net worth of $1,219,469. He reported income from his senate job and his farm in Okaloosa County. His assets include mostly real estate related to his residence and farm, and farm related equipment, while most of his liabilities were  payable on bank loans.
  • Clay Ingram, R-Pensacola listed a net worth of $18,807. His only listed income was his legislative job. His assets included a  home in Pensacola, while his primary liability was  his mortgage.
  • Mike Hill, R-Pensacola listed a net worth of $1,273,991. His primary income was from his State Farm insurance agency and his legislative post. His primary assets listed included his home, rental properties, insurancy agency property and investments. His primary liabilities were bank notes.

The totals run from a high of $26 million for outgoing Senate President Don Gaetz to a negative $127,138 for Rep. Darryl Rouson, a St. Petersburg Democrat who remains underwater on a pair of home loans.

Gaetz, a Niceville Republican with two years remaining in the Senate, was a co-founder of VITAS Healthcare Corp. He actually saw his net worth slip slightly in 2013, by about $140,000, from the prior year.

“The decline in my net worth is forcing me to make economies,” Gaetz quipped in an email response. “I’m afraid I will have to cancel some newspaper subscriptions.”

Of the 156 lawmakers who served during both the 2012 and 2013 sessions and whose reports were available, 119 recorded increases in net worth, 35 went down and two posted no change.

The reports represent an individual’s net worth on Dec. 31, 2013. While the reports were due July 1, lawmakers have until Sept. 2 to file them before facing fines.

As of Dec. 31, 2012, the average for all 40 senators stood at $3.34 million. The average for the 120 House members was $1.27 million.

A little more than $30,000 in income for each legislator comes from their state salaries.

Senate Republicans on average are worth $4.3 million per the latest reports, while their House GOP counterparts chime in at an average of $1.7 million. Democrats in the Senate averaged $2.77 million, while in the House the average stands at $865,224.

Of the 40 Senators, 18 are millionaires, one more than during the prior year. In the House, 35 of the 120 members are members of the millionaires club, the same number as the previous year though the list of millionaires does not include all the same representatives.

In the House, 12 members — two fewer than a year earlier — owe more than they’re worth, mostly due to outstanding home, student and auto loans.

by Jim Turner, The News Service of Florida

Comments

8 Responses to “How Much Money Are Your Lawmakers Worth?”

  1. David Huie Green on August 3rd, 2014 12:26 am

    Ulysses,
    I’ve never voted for a candidate I didn’t like more than his or her opponent.
    Sometimes my favorite loses, though.

    David for the best
    (or least bad)

  2. Mark T on July 31st, 2014 7:04 am

    Yep, Gov. Scott worked hard at bilking the tax payers with his health care company..

  3. Ulysses Everett McGill on July 31st, 2014 6:58 am

    Most politicians are lacking in moral fiber. They are so arrogant and self assured of re election that they won’t even return a phone call or a letter. But hey, y’all must like them, y’all keep votin’ em’ in

  4. Jane on July 31st, 2014 4:28 am

    We are talking about how much they make working for the government…not how much they are worth from previous jobs. Their salaries and benefits working in Congress and the state legislature make them overpaid for the amount of work they actually do. I have no problem with people who work hard and make good money in the private industries. They deserve that.

  5. blueace33 on July 30th, 2014 8:24 pm

    Most do quite well as a politition look at our governor easy to forgo a state salary when your worth over 100 million and hard earned ehhh some but not many.Our government waste more every year than most countries make in a year.

  6. Dan on July 30th, 2014 7:59 pm

    Hey Gary, maybe you can chip in to help Don pick up his paper tab, after all he lost $140K of his $26MM.

    He actually saw his net worth slip slightly in 2013, by about $140,000, from the prior year.
    “The decline in my net worth is forcing me to make economies,” Gaetz quipped in an email response. “I’m afraid I will have to cancel some newspaper subscriptions.”

    Joking or not how far out of touch do you have to be to make a public email comment like that?

  7. Gary on July 30th, 2014 9:14 am

    Jane- I believe their ‘wealth’ came from investments and hard work. I know Mike Hil and nobody ever gave him anything. He worked for what he has just as most wealthy people do. The couple I work for are wealthy and the same applies to them.

    Don’t think many people work for poor people.

  8. Jane on July 30th, 2014 6:09 am

    Most of them are a waste of money. Let them live on what the people on SSI live on and things might change and we would save some money.

Written by William Reynolds · Filed Under News