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The Washington Times Online Edition

House leadership not hit by slump

House leaders are doing well financially during this economic slump.

Their lucrative investments and, in many cases, well-compensated spouses supplement their House salaries.

Speaker Nancy Pelosi, California Democrat, one of the wealthiest members of Congress, and her real estate magnate husband, Paul Pelosi, spent between $1 million and $5 million to buy the home they had been living in on San Francisco’s Broadway. They also own a vineyard in St. Helena, Calif., worth between $5 million and $25 million and a town house in Norden, Calif., valued at between $1 million and $5 million, according to annual financial disclosures released Monday.

The Pelosis also took in rental income of as much as $5 million on five separate commercial properties in the San Francisco Bay area. Mr. Pelosi reported nearly four dozen stock sales and purchases last year, sometimes involving sums up to $1 million or more.

As speaker, Mrs. Pelosi’s government salary is $212,100, about $47,000 higher than virtually everyone else in Congress.

Other senior lawmakers reported hundreds of thousands of dollars in retirement savings, stock and mutual fund investments - and no major liabilities.

House Majority Leader Steny H. Hoyer, Maryland Democrat, has as much as $665,000 invested in individual retirement accounts.

House Minority Leader John A. Boehner, Ohio Republican, has an array of mutual fund investments, including seven with a value of at least $100,000 each. He also has a profit-sharing retirement plan from Nucite Sales, his former company, worth between $1 million and $5 million.

In their leadership posts, Mr. Hoyer and Mr. Boehner both earned $183,500 last year.

House members and senators outside the top six leadership posts receive annual salaries of $165,200.

Rep. James E. Clyburn of South Carolina, the No. 3 Democrat, has retirement savings accounts worth up to $100,000 and investments valued between $150,000 and $350,000.

Rep. Roy Blunt, Missouri Republican, his party’s whip, reports the fewest investments of any of the top leaders - just $50,000 to $100,000 in stock in Springfield-based Churchill Coffee Co., which he proudly serves in his Capitol office.

But Mr. Blunt’s wife, Abigail, who works in government relations for Kraft Foods, owns stock in the company worth $50,000-$100,000. She also owns stock in her former employer, Altria Group, worth $250,000-$500,000.

The annual disclosure forms, while not exact, give a glimpse of the financial activities of lawmakers beyond their basic salaries.

Other representatives’ spouses contribute to their comfortable financial picture.

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