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More than half in Congress are millionaires

More than half in Congress are millionaires
Posted January 9th, 2014 @ 3:43pm by Chris Moody, Yahoo! News

Lawmakers with a net worth below $1 million are now a minority in Congress, an analysis of congressional financial disclosure data finds.

A new study conducted by the Center for Responsive Politics discovered that for the first time, more than half those in the House and Senate are millionaires. The study examined disclosures filed last year, the most recent available, and found 268 have an average net worth above the threshold. Lawmakers are required to make ranges of their financial assets public each year.

In the House, the study found Democrats on average were wealthier than Republicans. In the Senate, the opposite is true.

Some of the most interesting findings in the CRP analysis:

- The median net worth for the 530 current lawmakers who were in Congress as of the May filing deadline was $1,008,767 -- an increase from last year when it was $966,000.

- Congressional Democrats had a median net worth of $1.04 million.

- Congressional Republicans had a median net worth of almost exactly $1 million.

- The median net worth for all House members was $896,000 -- that's up from $856,000 in 2011.

- The median net worth for all senators increased to $2.7 million from $2.5 million.

- Senate Democrats reported a median net worth of $1.7 million (a decline from 2011's $2.4 million), compared to Senate Republicans, at $2.9 million (an increase from $2.5 million).

For more, see all of the CRP data, the non-profit, non-partisan research group's methodology and a list of thewealthiest lawmakers in Washington. 

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