Republican presidential candidate Rep. Michele Bachmann has assets worth up to $2.8 million, the largest of which are the building housing her husband’s psychotherapy clinic and a family farm, according to disclosure forms she filed late Friday.
The annual disclosure is required of all Members of Congress, who each year report certain categories of income, investments and liabilities. Because the form asks for value ranges and excludes some assets, the true wealth of lawmakers is difficult to ascertain.
A Roll Call estimate of worth, which takes into account the minimum value of her assets minus outstanding liabilities, puts the minimum net worth of the Congresswoman and her husband, Dr. Marcus Bachmann, at about $900,000.
Dr. Bachmann’s psychotherapy practice in Lake Elmo, Minn., is worth $100,001 to $250,000, and the property on which the clinic operates is valued at $500,001 to $1 million. A family farm in Independence, Wis., worth $500,001 to $1 million, generated farm income of $5,001 to $15,000 for the Bachmanns in 2010.
In addition to clinic- and property-related assets, Rep. Bachmann reported having investment funds and bank accounts worth $162,000 to $555,000.
Her liabilities were a mortgage on the clinic property and a business loan of $100,001 to $250,000.
Rep. Christopher H. Smith, R-N.J., left, David Goldman, center, and Arvind Chawdra right, attend a news conference in the Rayburn House Office Building on international child abduction. Goldman and Chawdra are fathers whose children were abducted by their mothers and taken abroad.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.