Utah federal officeholders, candidates disclose finances

SALT LAKE CITY — Some of Utah's U.S. House and Senate members may say they relate to the common Utah family because they live like them. But new personal financial disclosures from the officeholders and candidates show several of them aren't like normal Utahns, if you're counting cash.

Sen. Orrin Hatch, R-Utah, continues to be a millionaire, as previous personal financial statements have shown. Hatch's new filling shows he is worth between $1.59 million and $8 million. He earned $11,859 in royalties last year (he writes songs and has a number of CDs in print). And he earned $13,000 in speeches which he donated to undisclosed charities. From his investments, Hatch earned between $14,300 to $42,500. (All forms require incomes and debts listed in broad ranges only).

Rep. Jim Matheson, D-Utah, is worth between $480,000 and $1.2 million, not counting his personal home and cars, which are exempt from disclosure. From those assets, last year Matheson made between $21,431 and $79,900. Matheson reported he made no income from several of his stock investments, meaning he may well have lost money on those investments in 2009.

In addition, members of Congress don't have to disclose incomes earned by their spouses. And Matheson's wife is a medical doctor employed at the University of Utah.

Republican Morgan Philpot, who is running against Matheson, doesn't have a primary election and so, he said, he doesn't have to file for several more weeks. Same goes for other congressional candidates who are not in the June 22 primary.

Two who are in a primary are U.S. Senate GOP candidates Mike Lee and Tim Bridgewater. They have called loudly for reduced federal spending and balanced budgets, and it helped them oust Sen. Bob Bennett, R-Utah, in the May 8 state Republican convention. But their personal financial disclosure forms raise questions about how well their own finances are balanced.

Their financial disclosure forms filed with the secretary of the Senate show that each may have a net worth less than zero.

Lee's disclosure form shows a net worth somewhere between minus $115,000 and minus $38,000, even though he reported a hefty income last year between $617,525 and $620,813.

However, those numbers did not include Lee's home or cars, which need not be disclosed according to Senate rules. So his real net worth likely is much larger.

Among debts he lists are outstanding student loans of between $15,001 and $50,000, an American Express credit card balance of $15,001 to $50,000 and a signature loan from a credit union between $10,001 and $15,000.