“Multimillionaire who has possessed a residence in Washington since I was 5 years old,” Finkenauer referred to Grassley in a tweet on July 31 that contained a hyperlink to contribute to her campaign.
Conclusion
It is worth noting that Grassley is far from being the only multimillionaire in Congress, but that does not diminish Finkenauer’s claims. Public records support both parts of Finkenauer’s claims about Grassley, and as a result, we give her an A.
Analysis
The campaign official did not respond to the request. However, the Fact Checker reached out to Finkenauer’s campaign regarding Grassley’s claims, which were based on the sourcing of a multimillionaire who has owned a house in the nation’s capital since Finkenauer was 5 years old.
First, let’s examine whether Grassley is a person with a multimillion-dollar fortune.
Each listed asset has a wide range of worth. As a member of the U.S. Senate, Grassley must submit a financial disclosure form every year that includes information about his transactions and assets from the previous calendar year.
The nonpartisan website Secrets, Open: tracking money in politics, has used recent estimates to report the net worth of each member of Congress in 2018, based on financial disclosures.
As per Open Secrets, Grassley’s approximate wealth remained consistently above $2.5 million from 2008 to 2018. In Butler County, a sum of $1.2 million was allocated to his family farm. In 2018, Grassley’s estimated net worth was $7.6 million, according to Open Secrets.
Among those in Congress in 2018, he is far from the only multimillionaire, as estimates suggest that he is worth at least $2 million.
Finkenauer, on the other hand, was estimated to have a net worth of -$12,500, making her one of the poorest members of Congress.
However, Finkenauer’s assertion that Grassley is a wealthy individual aligns with his financial disclosure records.
The Fact Checker examined property records from the assessor’s office in Arlington, Virginia, to determine if Grassley has possessed a residence in Washington since Finkenauer was five years old.
On November 3, 1994, Grassley acquired a residence in Arlington, a suburb located near Washington, D.C. This occurred 54 days prior to Finkenauer’s sixth birthday, as indicated in the records.
The second aspect of Finkenauer’s assertion is also accurate, demonstrating that Grassley has not sold the property in the 27 years that have elapsed since then.
His estate is valued at $818,400, as stated by the assessor’s office. He purchased it for $375,000.
Criteria
The Fact Checker team verifies statements made by a national candidate/officeholder or a political candidate/officeholder in Iowa in our market for appearing in ads.
Assertions need to be verified independently.
We assign grades from A to F to statements based on their accuracy and context.
If you identify a statement you believe requires verification, please send us an email at factchecker@thegazette.Com.
This Fact Verifier was extensively researched and written by John Steppe of The Gazette.