Lawmakers Give an Account of Themselves

By JODI WILGOREN and JANET HOOK

June 13, 1998 12 AM PT

TIMES STAFF WRITERS

WASHINGTON — Nearly a quarter of the members of California’s 54-person congressional delegation are worth at least $1 million each, according to records disclosed Friday that help paint a financial portrait of the folks who make our laws.

Democratic Sen. Dianne Feinstein and her husband, financier Richard Blum, are so rich that her form runs 82 pages. Their assets total at least $20 million, according to the report.

Rep. Ellen O. Tauscher (D-Pleasanton), who was a member of the New York Stock Exchange before her 1996 election to Congress, filled 36 pages with a year’s worth of stock trades.

Sen. Barbara Boxer, also a Democrat, made it simpler: Her short, handwritten form just lists a $1-million to $5-million blind trust--plus $1,699.50 for a cameo role in “Deep Impact.” The film frame ended up on the cutting-room floor and the money went to Mothers of East L.A.

Although many lawmakers saw their portfolios swell along with the Dow Jones industrial average in 1997, some remain closer to the middle class they are always talking about.

Rep. Gary Condit (D-Ceres)--who wore a business suit to a black-tie dinner this winter--lists no earned outside income, no honorariums, no assets, no financial transactions, no gifts and no travel. The sole entry on his form is under liabilities: a $50,000 to $100,000 Wells Fargo line of credit.

Members are not required to list their salaries: $133,600 in 1997, the year covered by the forms (rising to $136,673 for 1998). Nor do they have to include their personal residences.

The financial portrait of the nation’s lawmakers is culled from annual reports each member of the House and Senate must file explaining non-salary income, investments and trips they take at lobbyists’ expense.

Much of the information is sketchy because the politicians classify assets and liabilities in broad ranges--$1,001 to $15,000, for example, or $250,001 to $500,000--not specific amounts. But the forms still provide a window into the lawmakers’ wallets, including such details as where they have a summer home and what they got for wedding gifts (like the Waterford bedside lamp Republican Rep. John Kasich of Ohio hopes to someday take to the White House as president).

For House Speaker Newt Gingrich (R-Ga.), the form was a reminder of not-so-rosy times: He reports owing the government $250,000--what’s left of a $300,000 ethics fine--and collecting no book royalties, previously a top source of cash. He did, however, pick up a quick $156.60 in residuals for an appearance on “Murphy Brown.”

House Ways and Means Committee Chairman Bill Archer (R-Texas) showed his ways and means, with a net worth of $2.9 million that includes such assets as a 1987 Dodge truck and a coin collection.

And Sen. John McCain (R-Ariz.), much talked about as a possible presidential contender, may have the inside track on the frat vote: He has $500,000 to $1 million in Anheuser-Busch stock (his father-in-law also owns a distributorship). McCain abstained when the Senate voted this year on anti-drunk-driving proposals vehemently opposed by the beer industry.

Other Republican officials are not so well-heeled. House Majority Leader Dick Armey of Texas shows just a $2,100 pension payment from his days as a college teacher and a credit union account of less than $15,000.

The total number of congressional millionaires was not available Friday, but Californians are not the only politicos with lots of zeros in their bank accounts. Previous surveys showed that nearly half the 100 senators had amassed a million dollars, led by Sen. John Kerry (D-Mass.), who married ketchup queen Teresa Heinz (their estimated worth: $550 million). In the House, Rep. Amo Houghton (R-N.Y.), great-grandson of the Corning Glass founder, is believed to be the richest member, with $350 million.

Among Californians, the forms indicate that there are at least 13 millionaires, including both senators and 11 of the 52 House members.

Rep. Jane Harman (D-Torrance) is a case study in the forms’ vagueness: Her assets could be as low as $48 million, according to her report, but during her failed gubernatorial bid, sources close to her and her husband, Sidney, said the Harmans’ true worth is about $200 million.

Rep. Nancy Pelosi (D-San Francisco) has nearly $17 million, according to the forms. In 1996, Tauscher was tied for the eighth-richest member of Congress, with $30 million. Considering the market and her extensive stock holdings, her worth is probably higher now.

Most of the other California millionaires have considerably less.

Rep. David Dreier (R-San Dimas) said he was surprised to find himself with more than $1 million in stocks.

Rep. Tom Campbell (R-San Jose) has about $1 million in family holdings, and showed his stock savvy by buying at least $1,000 in Pfizer shares in January 1997--more than a year before the drug company’s Viagra hit the market.

Also among the millionaires, according to the forms, are Rep. Mary Bono (R-Palm Springs), Tom Lantos (D-San Mateo), Zoe Lofgren (D-San Jose) and Loretta Sanchez (D-Garden Grove).

In the cases of some lawmakers, it is the liabilities that are most notable: Rep. Dana Rohrabacher (R-Huntington Beach) lists a $10,000 to $15,000 fine to Orange County, probably in connection with his wife’s guilty pleas last year to fraudulently filing campaign documents. Rep. Jay Kim (R-Diamond Bar), who pleaded guilty to campaign finance violations--and lost in last week’s primary--reports lawyers’ fees of $100,000 to $250,000.

The forms also shed light on how lawmakers spend their time. More than 20 of California’s 52 House members took overseas junkets. Lantos led the globe-trotting pack, spending 100 days in 1997 on the road. Rep. Matthew Martinez (D-Monterey Park) flew on just one junket, a day trip to San Francisco courtesy of the Gray Panthers.

Under “positions,” where most list their honorary chairmanships and the like, Lofgren says “mother.”

Times staff writers Faye Fiore and Marc Lacey contributed to this story.

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A Sampling

Federal forms provide a peek at the personal finances of members of Congress, beyond their 1997 salary of $133,600. Here is a look at some of them:

Sen. Barbara Boxer (D)

Finances: Blind trust worth $1 million to $5 million, $2,962 pension from Marin County; husband’s salary; $1,670 for cameo in “Deep Impact”

Sen. Dianne Feinstein (D)

Finances: Assets worth at least $20 million; husband’s salaries from 9 companies; disclosure form is 82 pages

Rep. Chris Cox (R)

Finances: $945,000 in IRAs, bonds and stocks; wife’s income (unspecified); serves on nine advisory boards.

Rep. Howard (Buck) McKeon (R)