‘Underpaid’ Jim Moran One of the Poorest Members of Congress
Rep. James P. Moran, who has sparked a national debate after saying that lawmakers on Capitol Hill are “underpaid,” is one of the poorest members of Congress after decades in office and a host of financial troubles over the years.
Moran’s latest financial disclosure statement lists a single reportable financial asset to his name — a money market account with $1,000 to $15,000. He doesn’t list any liabilities.
In fact, Moran has been pulling down a second job of sorts, making $10,000 in 2012 for teaching at George Mason University.
He’s not quite poor enough to land him on this year’s Top 10 ‘Poorest’ list , however.
The longtime appropriator has had plenty of financial difficulties in the past — but has at times been a millionaire too, thanks to marriage.
(Related: Jim Moran, John Boehner Sought Congressional Pay Raise Reform as Freshmen) Moran in 2004 described himself as “the poorest member of Congress” after he racked up hundreds of thousands of dollars in losses from options trading. The Washington Post reported in 2011 that Moran’s finances tumbled amid his latest divorce, when he went from a millionaire to reporting no financial assets of his own.
In 2000, the Post broke the news that Moran had received a $25,000 personal loan from then-pharmaceutical lobbyist Terry Lierman days before Moran signed onto a bill seeking to extend the patent for Claritin. Lierman at the time of the Post’s story was the Democratic nominee for Maryland’s 8th District then held by Republican Connie Morella.
Moran also came under fire for a $447,000 loan he secured from MBNA at a favorable interest rate a month before he signed on as the lead sponsor of an overhaul of bankruptcy laws.