Rep. Joe Walsh (R-Ill.) is deep in the red with minimum net worth close to negative $21,000, disclosure records released Thursday show.
"Like many Americans, Congressman Walsh has dealt with his share of financial troubles over the last few years," spokeswoman Ashley Helms told The Hill. "Unlike most Members of Congress who are now millionaires, Congressman Walsh is better able to relate to his constituents who are going through tough times themselves."
Walsh is in a heated race against Tammy Duckworth as Democrats push to win back the previously Democratic seat.
Walsh racked up legal fees during a similar time frame, records show. Walsh owes a minimum of $15,001 in legal fees that were incurred in December 2011 to Janet Boyle & Associates, the firm that has been reported as representing him during the court proceedings.
His form also discloses a U.S. Department of Education student loan valued at a minimum of $10,001 taken out by his spouse. Walsh has a minimum of $4,005 in assets versus last year's minimum $3,004 in assets.
Walsh did not report any liabilities in 2010, filing disclosures from 2011 show.
The disclosure records, which all lawmakers are required to file, do not give exact figures for lawmakers’ assets and liabilities but provide a value range for each. The Hill takes the bottom value of each item and subtracts the sum of a lawmaker’s liabilities from the sum of their assets to arrive at a conservative estimate for their net worth.
The Hill rates Walsh's race as likely Democratic.