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Bachmann financial disclosure details personal finances

Posted by: Corey Mitchell under 6th District, Minnesota campaigns, Minnesota congressional Updated: August 17, 2012 - 11:21 AM

U.S. Rep. Michele Bachmann has between $1.45 million and $2.875 million in assets and income, according to financial disclosure forms her staff filed with the House of Representatives this week.

Bachmann did not report the income from her husband Marcus' family-owned Christian counseling business, Bachmann & Associates. Marcus Bachmann runs the business out of clinics in Lake Elmo and Burnsville.

The Bachmanns list $350,000 and $750,000 in liabilities from a mortgage on the Lake Elmo clinic and a business loan.

Bachmann reported that the value of her book, "Core of Conviction" is not ascertainable. The book had initial lackluster sales. She did not get an advance for the book because of congressional rules.

Despite asserting that she has never received income from a 949-acre family farm in Wisconsin that has benefited from federal subsidies in the past, Bachmann again listed the farm as a source of income when her staff filed the financial disclosure this week.

The income reported from the farm this year was between $5,000 and $15,000. Bachmann has long tried to distance herself from those who benefit from public money. On the campaign trail, Bachmann has said that federal payments to the family partnership have stopped and that she has never taken any of the government subsidies.

Members of Congress report their assets and additional income in ranges, which makes it difficult to determine their net worth.

The Star Tribune reported the financial disclosures of the rest of Minnesota's U.S. House members earlier this summer. Bachmann and U.S. Rep. Chip Cravaack requested extensions.

Here's a link to Bachmann's report.


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