A Wealthy Congress
RA 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees) requires members of Congress to file their Statement of Assets, Liabilities and Net Worth on or before 30 April annually. The statement also includes the public officials' business interests and connections, as well as a listing of their relatives in government.
Based on their 2006 statements, Senator Manuel Villar Jr. and Rep. Cynthia Villar (Las Piñas lone district) again topped the list in terms of declared wealth, declaring P915.7 million, with zero liabilities. Their net worth, which includes P200 million in shares of stocks and over P700 million worth of other real and personal properties, was 20.5% higher than the previous year.
Senator Villar was followed by Senators Ralph Recto (P307.5 million), Ramon Magsaysay Jr. (P162.3 million), Ma. Ana Consuelo "Jamby" Madrigal (P148.9 million), and Manuel Roxas (P140.3 million). The first four senators have maintained their standing since 2004, while Senator Roxas jumped from the eighth spot in 2005 after an 85.1% increase in his net worth. His shares of stock grew from P105.7 million in 2005 to P176 million last year.
At the other end of the list are Senators Juan Flavier (P3.5 million), Aquilino Pimentel Jr. (P10.2 million), Joker Arroyo (P11 million), Lito Lapid (P11.5 million), and Alfredo Lim (P12.7 million). Senator Flavier's net worth is the same as in 2005, while Senator Arroyo's net worth has been pegged at P11,050,000 since 2001.
Next to Rep. Villar at the House were Reps. Judy Syjuco (Iloilo 2nd District), P256.6 million; Ferjenel Biron (Iloilo 4th District), P207.4 million; Iggy Arroyo (Negros Occidental 5th District), P163.2 million; and Rodolfo Valencia (Oriental Mindoro 1st District), P150.5 million. Rep. Iggy Arroyo was the second-wealthiest among the House members in 2004 and 2005 but slipped to the fourth spot in 2006 after his assets decreased by 67.8% (from P314.9 million in 2005 to P127.3 million in 2006). Rep. Valencia jumped from the 16th spot in 2005 to fifth- wealthiest after his assets grew from P284.5 million to P351.6 million in 2006.
Congressmen with the lowest reported net worth were party-list representatives Rafael Mariano (Anakpawis), P25,085.79; Crispin Beltran (Anakpawis), P27,250.00; Joel Virador (Bayan Muna), P69,000.00; Hermilando Mandanas (Batangas 2nd District), P186,890.00; and Teodoro Casiño (Bayan Muna), P307,900.00. Rep. Beltran, who was not able to attend to his legislative work after he was arrested in February 2006, reported the biggest decrease in net worth, dropping by over 300%. His declared wealth in 2005 was P85,000.00.
Top 10 Wealthiest Legislators from 2003 to 2006 and
Legislators' Statement of Assets, Liabilities and Net Worth for 2006
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