Requiring Financial Disclosures in Congress
Follow the Money (in Congress)
Over the years, many members of Congress have grown significantly wealthier while in office, raising concerns about conflicts of interest. Unlike private citizens, Congress has historically operated under looser rules regarding insider trading and financial transparency. Additionally, family members of some legislators have appeared on campaign payrolls, and lawmakers often receive payments for travel and speaking engagements.
To address these concerns, members of Congress should be required to publicly disclose their total annual earnings on their official Congressional webpages. This disclosure should include salary, investment returns, and income from other sources, with the top five sources detailed. Such transparency would help constituents identify potential conflicts and allow representatives to demonstrate accountability.
- The U.S. Senate has 100 members, each earning an annual salary of $174,000. The U.S. House of Representatives has 435 members, and they receive the same annual compensation.
- To be elected to the U.S. House of Representatives, a candidate must be at least 25 years old, have been a U.S. citizen for seven years, and live in the state they wish to represent.
- To serve in the U.S. Senate, a candidate must be at least 30 years old, have been a U.S. citizen for nine years, and reside in the state they represent.
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