WASHINGTON, Sept. 23 (UPI) -- A listing of members of Congress ranked by net financial worth, by the Washington newspaper Roll Call, notes 17 members with more liabilities than assets.
The members of Congress at the bottom of list have significant income and assets, but larger liabilities caused by mortgages, overdue taxes and other issues, the report says.
The newspaper's ranking of the 535 members of the House and Senate, ranked in order of wealth, put eight Democrats and two Republicans in the bottom 10. Although each has assets, the newspaper said, they have larger obligations.
Rep. David Valadao, R-Calif., lists more than $1 million in assets but a $1 million mortgage and multimillion-dollar lines of credit on his dairy farm. He is identified by Roll Call as the "poorest" member of Congress with a net worth of negative $4.1 million.
Alcee Hastings, D-Fla., is paying off legal fees of more than $2 million he incurred during a bribery trial, as well as a mortgage, and has a negative net worth of $2.23 million, the newspaper said.
Debbie Wasserman Schultz, D-Fla., Democratic National Committee chairwoman, is down $1.04 million because of two mortgages along with home equity and personal loans.
Seventeen members of Congress were identified as having negative net worth, the newspaper said.