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Pelosi remains wealthiest U.S. House leader

Democratic Leader Nancy Pelosi is once again the wealthiest member of the leadership in the U.S. House of Representatives, according to financial disclosure reports released Friday.

Pelosi and her husband, Paul, have $42.4 million to $199.5 million in assets. They include commercial property in San Francisco, stock in Apple Inc. and Visa Inc., an interest in the Auberge du Soleil resort in Rutherford, California, and an ownership stake in the defunct United Football League.

The Pelosis disclosed $6.75 million to $31.5 million in liabilities against those assets.

Lawmakers are required to disclose most assets and liabilities annually and make periodic disclosures after purchasing or selling stocks. The reports released Friday cover 2013.

House Speaker John Boehner, an Ohio Republican, reported assets valued between $2.3 million and $6.7 million, an increase from 2012 when he reported holdings between $1.8 million and $5.4 million.

Most of Boehner’s holdings are in widely held funds and individual retirement accounts. He holds a pension from the state of Ohio valued at between $50,001 and $100,000.

It’s difficult to tell exactly how wealthy individual members are, and the variation increases as members gain more wealth. Financial disclosure forms filed by members of Congress require lawmakers to state the value of holdings in broad ranges. Precise figures aren’t made public.

Republican leaders

House Republicans soon will lose the wealthiest member of their leadership team.

Majority Leader Eric Cantor, who lost his primary election June 10 in Virginia, has a net worth of $6.2 million to $20 million. He will resign from his leadership position July 31, he said this week.

The largest assets held by Cantor and his wife, Diana, include more than $1 million in stock in Domino’s Pizza Inc. and more than $500,000 in deferred stock of Media General Inc., which owns two Virginia television stations. Diana Cantor is a director of both companies.

California Republican Kevin McCarthy, the leading candidate to take over the party’s No. 2 leadership spot in the House, reported between $76,000 and $266,000 in assets, mostly in mutual funds managed by California-based Capital Research & Management. The single liability for the former deli owner is a mortgage valued between $100,000 and $250,000 on his home in Bakersfield, California.

Mutual funds

The median value of McCarthy’s assets — $171,000 — has dropped from $299,500 since 2007, his first year in office, when he held a mix of mutual funds and stocks.

Three Republicans are running to replace McCarthy as majority whip, the third-ranking leadership job, which requires persuading party members to back legislation.

Peter Roskam of Illinois, the chief deputy whip, listed assets valued at almost $350,000 to $1.5 million, mostly from bonds and exchange-traded funds.

Steve Scalise of Louisiana, currently chairman of the Republican Study Committee, reported a negative net worth. He holds assets between $4,000 and $60,000, offset by mortgage debt. Scalise also reported a personal loan of $15,000 to $50,000 and a revolving charge account of $10,000 to $15,000.

Extension requested

Assets for the third majority whip contender, Marlin Stutzman, weren’t immediately available. The Indiana Republican requested an extension to file by Aug. 13.

At a time when Democrats are trying to force a debate over income inequality, the leaders’ wealth means they are rarely personally affected by paycheck concerns, such as the need to pay off student loans.

While student loan debt surpassed $1.2 trillion, only one top House leader, Cathy McMorris Rodgers, reported she had any.

Senate lawmakers this week failed to advance legislation that would have allowed students to refinance student loan debt. Someone who took out an undergraduate Stafford loan in the 2011-2012 year at a 6.8 percent interest rate could have refinanced at the 2013-2014 rate of 3.86 percent.

The measure drew Republican opposition in part because it would be paid for with new taxes on wealthy individuals. The Republican-led House hasn’t taken up any similar legislation.

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