Net Worth of Nevada’s Beltway Delegation
Congress this week released the personal finance reports filed each May by members of the House and Senate. The value of assets are reported in ranges so totals are estimates, and those estimates can vary widely. So widely, in fact, that they are rendered nearly meaningless, and it is somewhat astounding the filings are even required.
For example, according to her report, Rep. Shelley Berkley is worth a minimum of $6.1 million and a maximum of $23.9 million.
Senate Majority Leader Harry Reid is worth a minimum of $3.35 million and a maximum of $10.4 million.
Sen. Dean Heller is worth a minimum of $2.5 million and a maximum of $11 million.
Rep. Joe Heck is worth between $378,000 and $895,000 (and is still paying off student loans from medical school) according to the report.
When taken as a whole, the net worth of Nevada’s congressional delegation is between $12.3 million and $46.2 million.
Las Vegas Sun reporter Karoun Demirjian wrote a fun piece including some of the more notable things from each report. Among them:
– Harry Reid accepted a $14,500 private jet ride from California Sen. Dianne Feinstein. He also holds in excess of $500,000 in municipal bonds tied to school buildings and other “administrative” ventures in various states.
– Much of Shelley Berkley’s wealth is tied up in dialysis machines owned by her husband’s medical practice.
– Joe Heck is still paying off student loans from medical school (he owes between $50,000 and $100,000).
– Dean Heller’s portfolio is…”boring.” He has municipal bond holdings, some Bank of America and Mass Mutual Life Insurance accounts, and a small LLC.
House and Senate members are paid $174,000 a year. Leaders (majority and minority party leadership) are paid $193,400.
A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it, which they did in 2010. The cost-of-living increase would have given lawmakers a $1,600 raise this year, so taxpayers were saved $850,000 by the vote.




