Virginia 10th District Rep. Joseph L. Fisher's net worth is eight times that of his Republican challenger, Frank Wolf, according to financial statements released recently.
Fisher and his wife Peggy list their net worth as of April at $714,584. Wolf and his wife Carolyn say their net worth is $86,250 as of February.
The Fishers' income comes from congressional salary, dividends and interest. Their assets are made up mostly of stocks and bonds, real and personal property, cash value of life insurance and cash in bank deposits.
The Wolfs' income comes largely from Wolf's attorney fees. The Wolfs own no stocks and bonds and have no dividend or real estate income.
Wolf released his net worth statement as part of his campaign pledge. "I really think people running for office today have an obligation to be very, very open with their records," Wolf said this week.
Fisher released his financial statement in May - a practice he started when he was first elected to congressional office in 1974. "I believe the people I represent are entitled to know whether I am paying my full share of taxes," he said.
[WORD ILLEGIBLE] Fishers paid a federal income tax bill of $26,368 and a state income tax of $4,039 on their 1977 total income of $89,633.
Prior to assuming office in January 1975, Fisher and his wife placed their stock and bond holdings into two blind trusts to avoid any conflict of interest. Those trusts now total $446,600, although the Fishers don't know their content.
The Fishers' home at 2608 N. 24th St., Arlington, is valued at $141,300. They also own property in Loudoun County valued at $47,530, property in Milbridge, Maine, valued at $40,500 and property in Hancock County, Maine, valued at $20,530.
The Fishers' only liability is a $29,000 bank loan used for improvement of their property in Loudoun County.
Wolf's 1977 income tax report shows a net income of $54,435 and $7,500 in retirement deductions. The Wolfs paid $8,381 in federal income taxes and $1,631 in state income taxes in 1977.
The Wolf family home at 1453 Hunter Mill Rd., Vienna, is the couple's principal asset at $114,035. They owe $58,619.86 in mortgage payments on the house.
The Wolfs have $16,401.54 in bank deposits. Their life insurance policies are valued at $3,000.
The Wolfs also are liable for a $9,000 loan to the Wolf for Congress Committee.
The couple's 1977 tax return contains a $725 casualty loss from the death of "Kiowa," a spotted pony for the five Wolf children. The pony was killed in a car accident in April of last year. The claim includes the loss of the pony and the unreimbursed damage to the car.