Lawmakers range from millionaires to middle class
By Katherine M. Skiba
Milwaukee Journal Sentinel
June 12, 2002

Washington - Forty-nine year-old Russ Feingold has a heavily mortgaged Middleton home, a car note, his wife's old student loan and an outstanding balance at American TV Appliance & Furniture.

The bottom line?

He's one of the poorer members of the U.S. Senate, sometimes called a "Millionaire's Club" for the heavy presence of the seven-figure set.

"I can imagine what it's like for people working two jobs, having a much lower income, how tough it is to take care of kids and save a little money for something else," Feingold said.

Herb Kohl, Wisconsin's other senator, is one of the most well-heeled of the senators. He owns the Milwaukee Bucks, a Wyoming horse ranch and other real estate - not to mention a blind trust worth more than $50 million.

Portraits of Wisconsin's federal lawmakers - and their pocketbooks - emerged this week after the Milwaukee Journal Sentinel asked them to provide details about their finances beyond what is required in annual congressional disclosures.

Not all complied, so the picture is incomplete.

But trailing the 67-year-old Kohl in wealth are Rep. F. James Sensenbrenner Jr. of Menomonee Falls, whose net worth is nearly $11 million; Rep. Tom Petri of Fond du Lac, who reported a net worth of $5.6 million; and Rep. Paul Ryan of Janesville, who reported $1.1 million.

Those three men are Republicans; Kohl and Feingold are Democrats.

Millionaires, maybe? Two other lawmakers may fit that description - Democrat Jerry Kleczka of Milwaukee and Republican Mark Green of Green Bay - though it is impossible to know because Congress' financial disclosure requirements do not ask exact amounts, but dollar ranges.

Dave Obey, Democrat from Wausau? He's not saying. Nor would he provide the newspaper with an early copy of his disclosure, which members submitted in May and which are to be made public Friday.

He did, though, say he owns two homes - one in the Washington area, one in Wausau - plus a cottage in northwestern Wisconsin, as well as IRAs, other retirement funds and a small savings bond. "We own no stocks," he said.

Upper class, middle class

Kohl, for his part, declined to be interviewed about his holdings.

As a rich man, he's in good company in the Senate, considering peers such as Sen. John Kerry, Massachusetts Democrat (married a Heinz ketchup heiress); Sen. Jon Corzine, New Jersey Democrat (ex-chairman of Goldman, Sachs & Co.); and Sen. Jay Rockefeller, West Virginia Democrat (great-grandson of the late billionaire John D. Rockefeller).

Feingold, though, said in an interview Tuesday that he'll never be a wealthy man "but I never intended to be. I'm middle class, economically, and I'm very comfortable. And I don't miss any meals."

He gave his net worth at $148,028.

Feingold, who has two children and two stepchildren, said the old student loan ($1,425) he's carrying is from his wife, Mary. Meantime he's helping put his daughters through the University of Wisconsin-Madison and UW-Eau Claire.

"I can imagine what it's like for people working two jobs, having a much lower income, how tough it is to take care of kids and save a little money for something else," he said.

Most members of Congress were paid $145,100 last year. Feingold drew only $136,700, the salary in effect when he was last elected; he does not take the periodic pay increases Congress may enact during a six-year term.

He reported negative equity in his Middleton home, assessed at $208,000 and carrying two mortgages totaling $228,341.

Feingold listed one share of Green Bay Packers stock. Market price? $200. Market value? "Infinite," he reported.
Kohl, meantime, accepts only $89,500 in salary; he has declined raises since taking office in 1989.

He put the value of his Milwaukee Bucks at "over $50 million"; in fact the market value is thought to be substantially higher, but that is the biggest category on the disclosure forms.

Sensenbrenner assets

Sensenbrenner takes the trouble to introduce a lengthy net worth statement into the Congressional Record. One of the Kimberly-Clark Corp. heirs, he listed stocks worth $8.2 million, real property worth $1.4 million, bank and savings accounts with $171,096 and stamp collection valued at an estimated $65,000 - plus a small fleet of cars.
His wheels? A '94 Cadillac de Ville, an '89 Cadillac Fleetwood, a '96 Buick Regal and '91 Buick Century.

He also reported owning a 20-foot pontoon boat and a 17-foot Boston Whaler.

Charge account balance? Zero.

Here's a look at other lawmakers:

Tom Barrett

House Democrat from Milwaukee and candidate for Wisconsin governor: Net worth: $612,000, about 44% of it in retirement funds. He reported $4,045 in gifts to charity on his 2001 federal tax return; also a $16,545 short-term loss in the sale of ADC Telecomm Inc. stocks.

Paul Ryan

House Republican from Janesville. Net worth: $1.1 million, which includes investments, partnerships, rental units and a $159,125 trust in the name of his wife, Janna Little Ryan.

Tammy Baldwin

House Democrat from Madison. Net worth: $667,798. That includes a blind trust worth between $250,001 and $500,000, rental property, stocks and money-market funds.

Ron Kind

House Democrat from La Crosse. Net worth: between $283,500 and $333,500, including rental property, investments, autos and a $2,500 boat.