WASHINGTON – Rep. Kelly Morrison is likely the wealthiest member of Minnesota’s congressional delegation, Rep. Betty McCollum is burdened with two mortgages, and Rep. Angie Craig sold her condo on a Mexican beach.
Those are just some of the findings in the financial disclosure reports filed by Minnesota’s members of Congress.
The reports, covering lawmakers’ finances in 2025 and filed with the House Ethics Committee, also show that several Minnesota lawmakers have more modest assets and income.
Rep. Ilhan Omar, D-5th District, has a debt of between $15,000 and $50,000 for her student loans. Her husband, Tim Mynett, holds credit card debt valued at between $15,000 and $50,000.
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While members of Congress are required to report certain income, assets, liabilities and transactions, they do so in wide dollar ranges so only a broad view of their financial disclosures are made public.
And several types of assets do not have to be reported, including the value of a main residence and any money invested in the Thrift Savings Plan, a retirement plan for federal workers that is similar to an IRA or 401k. Nor are the lawmaker’s salaries listed, which for most members of Congress is $174,000 this year.
Still, the disclosures offer a glimpse into the finances of individual members – and can divulge possible conflicts of interest.
Earlier this year, President Donald Trump attacked Omar over a sharp increase in the valuations of two companies owned by her husband. That increase prompted a congressional probe by one of the president’s staunchest GOP allies and Trump’s suggestion to the Justice Department to investigate the lawmaker and her husband for fraud.
Omar’s original 2024 finance report said those companies were worth between $6 million and $30 million. That was a sharp increase from their stated value in the lawmaker’s 2023 disclosure.
Omar subsequently amended her 2024 disclosure report, saying the valuations of Mynett’s companies – a winery in California and a venture capital firm called Rose Lake Capital – were made in error because they did not include the companies’ liabilities and debts.
Omar’s most recent report listed the valuation of the companies – in which her husband is partial owner – as “none.”
Vast stock holdings
Morrison, D-3rd District, received an extension from the Ethics Committee that allows her to file her report as late as Aug. 13.
But her last report, filed July 20, 2025, showed that the lawmaker had between $503,000 and more than $1 million in personal bank accounts, and that she and her husband owned between $22.9 million and $77 million in mutual funds, individual stock holdings and other assets.
The couple also reported a rental property worth between $500,000 and about $1 million.
Morrison’s vast stock holdings came under scrutiny in April when it was discovered that she filed reports on trades months after they were due, and in one case more than a year late. The eight trades in question together were worth between $1.41 million and $2.91 million.
Besides filing annual financial disclosure reports, members of Congress must also publicly disclose any individual stock, bond, or commodity trade over $1,000 within 30 to 45 days of the transaction.
A spokeswoman for Morrison said the lawmaker was unaware of the trades, which were made by her financial advisor. And Morrison said she would divest herself of all individual stocks and holdings in private companies.
“I take my role as a public servant very seriously,” Morrison said in a statement. “Trust in government is critically important and even the appearance of a conflict of interest can erode that trust. I don’t want there to ever be a question of what I am fighting for and who I serve. That is why I am divesting from all public and private companies and will no longer own individual stocks.”
Craig, D-2nd District, meanwhile, listed a personal bank account holding $250,000 to $500,000 and mutual funds and other investments – some held jointly with her wife – worth between nearly $4.3 million and $8.6 million.
The Senate candidate also reported selling a condominium she and her spouse owned in Playa del Carmen, a beach resort town on the Mexican Caribbean. That property was valued at between $100,000 and $250,000.
Farmland, rental properties help enrich lawmakers
On the other end of the financial spectrum, Rep. Tom Emmer, R-6th District, filed a very simple report. It only listed one asset, an IRA worth between $15,000 and $50,000.
Emmer’s report also listed only one liability, a mortgage valued at between $100,000 and $250,000.
Rep. Betty McCollum, D-4th District, also filed an uncomplicated financial report. She listed income from an annuity in the amount of $1,000 to $2,500 and a mortgage on her home in St. Paul worth between $100,000 and $250,000.
McCollum also listed a second mortgage – on her home in Washington D.C. – worth between $250,000 and $500,000.
Meanwhile, Rep. Brad Finstad, R-1st District, reported owning a stake worth between $1 million and $5 million in a family farm, and ownership of a building in Brown, Minn., worth $5 million.
Finstad also reported ownership of a New Ulm agricultural and environmental testing company called Frontier Labs valued at $1 million, and other assets worth between $582,000 and $1.43 million.
Another Republican, Rep. Michelle Fischbach who represents the 7th congressional district, reported ownership of three rental properties in Paynesville worth a total of between $200,000 and $450,000 and rental income from those properties in the range of $10,000 to $30,000.
Fischbach also reported assets that included stocks, mutual funds and farmland whose total worth was between $218,000 and $670,000.
Related: Omar responds to Trump, GOP charges of financial malfeasance and fraud with new financial disclosure filing
Fischbach’s liabilities include mortgages on rental property, residences and a vacation home worth $280,000 to $760,000, and student loans in the amount of $60,000 to $115,000.
Like Morrison, Rep. Pete Stauber, R-8th District, requested an extension until Aug. 13 to file his 2025 financial reporting form.
The lawmaker’s 2024 report showed he owned a rental property in Hermantown valued at between $100,000 and $250,000, another in Proctor worth between $50,000 and $100,000 and a commercial building in Duluth valued at between $100,000 and $250,000.
Stauber also listed interest in two real estate companies worth between $65,000 and $150,000.
But the lawmaker also had liabilities. They included mortgages on rental properties worth between $100,000 and $250,000 and a mortgage on his home worth between $500,000 and $1 million.
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