Reps. Boehner, Cantor continue millionaires reign over House

By Paul Kane and David A. Fahrenthold,
WashPost
Wednesday, June 15, 1:23 PM

While the majority status and chairman’s gavels may have changed hands, the “people’s” House is still run by millionaires.

House Speaker John A. Boehner (R-Ohio) and House Majority Eric I. Cantor (R-Va.), the GOP leaders who rode to power on the grassroots wave of tea-party activists, are multi-millionaires with financial investments in some of the nation’s largest corporations.

Boehner had minimum financial holdings of $2 million at the end of 2010, while his top deputy was worth at least $3.4 million, according to financial disclosure forms that were released Wednesday. Their true net worth is likely to be far greater because lawmakers are only required to reveal a broad range of their financial holdings and the value of their primary residences is not mandatory in the disclosures. And, as is the case with Cantor’s wife, Diana, spouses are required to reveal the stocks and other assets they hold at the end of the year, not their annual income from the jobs they hold.

The forms, which all members of Congress had to file Wednesday unless specifically granted an extension, are designed to disclose the financial holdings of lawmakers in order to provide some transparency in their legislative maneuvering so voters can be aware of any potential conflict of interest.

(More here.)