Tuesday, July 7, 2015

Fattah among 'poorest' members of Congress, Roll Call finds

U.S. Rep. Chaka Fattah (D., Pa.)
U.S. Rep. Chaka Fattah (D., Pa.)
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One Philadelphia representative is among the poorest members of Congress, a Roll Call analysis has found.

Roll Call says Rep. Chaka Fattah ranks as the 10th-poorest representative, with a negative net worth of minus $650,000.

The 2nd District Democrat and others on the list have the lowest net worths because they hold large debts and liabilities, the newspaper says.

Fattah has $800,000 in mortgages and home equity loans for three properties in the Philadelphia region, according to Roll Call.

But Fattah's net worth also includes a state retirement account worth at least $50,000 and GE stock worth at least $100,000. The GE stock is owned by his wife.

Roll Call says it calculates the representatives' net worths by subtracting the members' total minimum liabilities from their total minimum assets, as reported in annual financial disclosure statements.

California Republican Rep. David Valadao had the lowest net worth, at minus $4.1 million.

Another California Republican, Darrell Issa, was the richest, with a net worth of $355.38 million.

Contact Emily Babay at 215-854-2153 or ebabay@philly.com. Follow @emilybabay on Twitter.

Contact the Breaking News Desk at 215-854-2443 or BreakingNewsDesk@philly.com. Follow @phillynews on Twitter.

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