Mike Johnson, the Republican congressman representing Louisiana’s 4th congressional district, has an estimated net worth of -$32,501, according to the Center for Responsive Politics.
This means that his liabilities exceed his assets.
Johnson’s financial situation is relatively unusual for a member of Congress. According to Roll Call, he is one of only five members of Congress with a negative net worth.
The other four are Garret Graves (R-LA), Cedric Richmond (D-LA), Steve Scalise (R-LA), and Clay Higgins (R-LA).
There are a few possible explanations for Johnson’s negative net worth. One possibility is that he has accumulated significant student loan debt.
Another possibility is that he has made investments that have lost value. It is also possible that he has simply overspent his income.
Johnson’s financial situation has been the subject of some scrutiny. In 2018, the Louisiana Democratic Party filed a complaint with the Federal Election Commission alleging that Johnson had violated campaign finance laws by failing to disclose his debts.
The FEC dismissed the complaint, but it did raise questions about Johnson’s financial management.
Despite his negative net worth, Johnson has been able to maintain a successful political career.
He was first elected to Congress in 2016 and has been re-elected twice since then. He is currently the chair of the Republican Study Committee, the largest Republican caucus in Congress.
Johnson’s financial situation is a reminder that even members of Congress can struggle financially. It is also a reminder of the importance of financial transparency and accountability.
Here is a more detailed breakdown of Johnson’s assets and liabilities, according to his 2018 financial disclosure report:
Assets
Cash and cash equivalents: $50,000-$150,000
Retirement accounts: $150,000-$300,000
Other assets: $50,000-$150,000
Liabilities
Student loans: $265,002-$550,000
Other liabilities: $50,000-$150,000
Total assets: $250,000-$600,000
Total liabilities: $315,002-$700,000
Net worth: -$32,501 to -$100,001
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