Does New Speaker of the House Mike Johnson Have a Bank Account? [View all]

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https://www.thedailybeast.com/does-new-speaker-of-the-house-mike-johnson-have-a-bank-account?ref=home

Does New Speaker of the House Mike Johnson Have a Bank Account?
Speaker Mike Johnson has never listed a bank account on his financial disclosure. In fact, on his newest disclosure he doesn’t list a single asset at all.
Roger Sollenberger
Senior Political Reporter
Published Nov. 01, 2023 4:50AM EDT


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Over the course of seven years, Johnson has never reported a checking or savings account in his name, nor in the name of his wife or any of his children, disclosures show. In fact, he doesn’t appear to have money stashed in any investments, with his latest filing—covering 2022—showing no assets whatsoever.

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House Ethics Committee filing guidelines state that members must disclose bank accounts they have at every financial institution, as long as the account holds at least $1,000 and the combined value of all accounts—including those belonging to their spouse and dependent children—exceeds $5,000.

The rules cover all “interest-bearing, cash-deposit accounts at banks, credit unions, and savings and loan associations,” including checking, savings, and money market accounts, along with certificates of deposit and individual retirement funds, or IRAs. (Johnson reported receiving a $10,485.53 distribution from a New York Life IRA in 2017, his first year in office, possibly from a retirement account he had listed the previous year.)

It’s certainly not uncommon for Americans to have less than $5,000 in their bank account. Most Americans—57 percent—couldn’t handle an unexpected $1,000 expense, according to a report earlier this year. And the median amount that Americans keep in their bank account is $5,300. But Johnson’s household income puts him in the top 12 percent of earners in the United States. And it’s extraordinarily rare for members of Congress to not list a qualifying bank account—let alone zero assets whatsoever.

The Daily Beast reached out to Johnson’s office for comment but did not receive a reply.