Texas’ U.S. House delegation will experience high turnover come 2027, with several new members likely to be millionaires. A Texas Tribune analysis of candidates’ personal financial disclosures found that the majority of prospective new members have significant wealth.

Financial Disclosures

Exact net worths are impossible to determine due to broad ranges in disclosure requirements. However, using these ranges, it is possible to estimate the net worths of the likely incoming members. The mean estimated net worth of 15 first-time candidates from Texas was $3.34 million.

Several candidates have multimillion-dollar net worths. Republican Mark Teixeira, running for the Central Texas seat, has a net worth between $48 million and $331 million. Republican Chris Gober, running in a competitive seat, has a net worth of between $32 million and $107 million.

Concerns About Financial Conflicts

Anthony Gutierrez, executive director of Common Cause Texas, expressed concerns about the trend of wealthy candidates. He stated that the campaign finance system rewards candidates with money or access to it. Gutierrez advocated for a ban on stock trading among members of Congress and suggested that candidates should be comprehensive in their financial disclosures and consider divesting from stock holdings.

Some candidates, like Democrats Johnny Garcia and Katy Padilla Stout, have relatively low net worths, with maximum net worths of under $250,000. Republican Trever Nehls had the lowest estimated net worth of potential incoming members, with a net worth of less than $15,000.

Original reporting: Texas Tribune (HLL/CB) — read the source article.