According to a recent report by Roll Call, Alan Grayson is the 11th-richest member of Congress, up from 12th last year, after his net worth remained relatively stable.
Grayson’s largest asset is a $25 million claim of against a defunct investment group accused of running a Ponzi scheme. He also lists a trust fund worth at least $5 million among his major assets, yielding a “minimum net worth” of more than $31 million, according to the report.
Still, unlike some Democrats in Florida’s House delegation, Grayson is supporting President Barack Obama’s efforts to allow tax cuts for Americans earning more than $250,000 a year to expire (in the name of reducing the budget deficit), while extending them for everyone else.
“It is critical that we pass the Obama middle-class tax cuts — not providing an even greater lift for the wealthiest Americans who don’t need it,” Grayson said in a letter to House leaders, noting the money instead should be used to close the gaping budget deficit.
Republicans are less divided — and Democrats accuse them of looking to hold the middle class tax cuts “hostage.” Nearly every member argues that raising taxes during a recession would hurt the economy. House Minority John Boehner this week backtracked from remarks he had made earlier in the week suggesting he could support extending the cuts only for those making less than $250,000.