According to Roll Call, Hinojosa is worth negative $881,000! Wow! No wonder Hidalgo county is so broke, when our Representative in DC can’t even pay his own bills!
The Trib reports:
A low net worth can pose a challenge to lawmakers trying to maintain one home in their district and another in Washington, current and former members say. But it also proves that you do not have to be a millionaire to serve in the people’s house — and that, some say, is an important point to make.
A diverse Congress “on all levels” makes for better legislation and more tuned-in lawmakers, Hinojosa said through a spokesman. Hinojosa, a former president of a food-processing company, is the least-wealthy Texas member — and is in Congress’s bottom 10, according to Roll Call, the Capitol Hill newspaper, which estimated his net worth at negative $881,000.
His annual federal financial disclosure, which establishes a range of values for many of the members’ personal assets and liabilities, puts his average net worth at about negative $2.67 million. He declared personal bankruptcy last year, attributing it to his liability for a bank loan to the troubled food-processing company.