The New Millionaires Club
A new study by the Center for Responsive Politics finds that the median estimated net worth of the incoming freshmen of the 113th Congress is almost exactly $1 million more than that of the typical American household:
“While America continues to claw its way back to economic stability, voters have nevertheless chosen to elect new members of Congress who have already made it big,” noted Sheila Krumholz, executive director of the Center. “Apparently, on the whole, we don’t want people who look like us, financially speaking. What’s harder to measure is whether these new legislators appreciate the financial pain people face and can effectively represent them despite the fact that they themselves are well off.”
Jim Morrill at the Charlotte Observer follows up on the Center’s research with a closer look at North Carolina’s congressional delegation.
Three of the freshmen congressmen elected in November – Republicans Robert Pittenger of the 9th District, Mark Meadows of the 11th and George Holding of the 13th – have the distinction of being the wealthiest in the state’s House delegation.