House leadership not hit by slump

Pelosi one of Hill's wealthiest

By Julie Hirschfeld Davis ASSOCIATED PRESS | Tuesday, June 17, 2008

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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.

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