Ocasio-Cortez, who was financially struggling when she was initially elected to Congress in 2018, now asserts that her net worth exceeds $1 million, as stated by a Facebook user whose post has been shared over 14,000 times.
“How does that occur???” The user inquired.
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In her latest financial disclosure filed in September 2020, Ocasio-Cortez stated that she had assets ranging from $2,003 to $31,000 and student loan debt ranging from $15,000 to $50,000. The financial disclosures that members of Congress are obligated to submit indicate otherwise.
Ocasio-Cortez would not be one of them, as last year’s analysis of financial disclosures by the Center for Responsive Politics found that the majority of Congress members are millionaires.
Two Facebook individuals who shared the post did not reply to inquiries for feedback.
AOC’s net worth
Time, as indicated by the phrase “lived paycheck to paycheck,” is extensively documented in the narrative of Ocasio-Cortez’s twenties, which portrays her transformation from a bartender to a congresswoman by defeating a Democratic incumbent in a reliably Democratic district in New York.
Valued at a range of $3,003 to $45,000 were a checking account, a brokerage account, and a 401(k) plan held by Ocasio-Cortez during her initial financial disclosure upon assuming office in 2019.
Ocasio-Cortez stated during a September 2019 student loan hearing that she had made a payment of $19,000 towards her student loan debt. At the time, her student loan debt was listed as $50,000 and $15,001 through the U.S. Department of Education.
Each year, Congress members receive a salary of $174,000. Her total income for 2018, consisting of $25,463, was derived from her campaign for Congress and her employment at a taco restaurant where she worked as a bartender.
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According to the report from the Center for Responsive Politics’ OpenSecrets.Org, Ocasio-Cortez was ranked as one of the least wealthy members of Congress, despite the fact that the majority of members have a net worth of at least $1 million.
In September 2020, the congresswoman submitted her subsequent financial statement. At that time, she disclosed that within the range of $2,003 and $31,000, the identical three accounts were maintained and within the range of $15,001 and $50,000, her educational loan obligation remained unchanged.
Ocasio-Cortez stated that she could potentially have up to $12,000 worth of debt, or nearly $17,000, due to the significant shortfall in her student loan debt of $19,000 in September 2019.
Lauren Hitt, the spokesperson for Ocasio-Cortez, stated that the financial disclosure reports are precise, but did not offer any further remarks.
Political fundraising takes off
The Federal Elections Commission filings reveal that her political fundraising has surged in conjunction with her increasing national prominence, whereas financial disclosures indicate that Ocasio-Cortez’s individual wealth has not experienced a significant rise throughout her tenure in Congress.
As per the FEC, Ocasio-Cortez’s bid for reelection resulted in a remaining balance of approximately $4.3 million in her campaign funds, following an expenditure of $17.3 million throughout the 2020 election period, alongside an accumulation of $21.2 million.
When she scored a surprise victory during the 2018 Democratic primary, Ocasio-Cortez spent about $1.8 million of the $2.2 million she raised.
The political action committee Courage To Change, launched by congresswoman Alexandria Ocasio-Cortez last year, raised $842,000 and spent it supporting progressive candidates challenging incumbent Democrats.
She also raised approximately $5 million for Texans who were hit by a winter storm in February, as reported by CNN without mentioning the state in which the power outage occurred.
Our ruling: False
NOT TRUE, according to our investigation, we evaluate the assertion that Rep. Alexandria Ocasio-Cortez has accumulated over $1 million in net worth while serving as a member of Congress. In her latest financial disclosure in September 2020, Ocasio-Cortez stated having assets ranging from $2,003 to $31,000, in contrast to student loan debt ranging from $15,000 to $50,000.
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