The West Virginia Democratic Party recently took Republicans to task for opposing President Joe Biden’s efforts to issue partial student debt forgiveness.
in one tweeted statementDemocratic Party leader Mike Pushkin argued that Republicans don’t understand the financial pressures young college grads face, especially Miller, given their personal wealth.
Miller, Pushkin said, “is a multimillionaire worth over $16 million.”
Is this description of your personal finances accurate? Well, it’s complicated. (Neither Pushkin’s nor Miller’s office have responded to inquiries about this article.)
Data from OpenSecrets.org, a nonprofit research organization that tracks money in US politics, shows Miller’s net worth in 2018 was $16,037,033.
This figure comes from the personal financial disclosure file of all members of Congress, covering their holdings and those of their spouses. These forms require disclosure of a variety of assets and liabilities, with specific asset and liability categories listed in broad dollar ranges.
Part of Miller’s wealth comes from the estates of her husband, Matt Miller, who owns five Dutch Miller dealerships and has an interest in MFM Realty, a real estate company, the Dominion Post reported. The pair’s holdings also include a mix of stocks.
The figure of $16 million is OpenSecrets’ median estimate and falls midway between the maximum and minimum of the submitted ranges. This means the actual dollar value of Miller’s holdings could be over $16 million or less. It is impossible to know how the forms are designed.
“Asset values are reported in very broad ranges, so it’s always more accurate to present these rough estimates as ranges,” Alex Baumgart, an OpenSecrets researcher, told PolitiFact West Virginia.
These numbers are now 4 years old. On the form Miller submitted earlier this year, which covers 2021, the median estimate of her net worth was about $15.8 million, which is nearly $16 million.
Given this year’s overall drop in stock values, it’s possible Miller’s net worth has declined since 2021. But we won’t know for sure until next year, when she submits her 2022 form.
The West Virginia Democratic Party said, “Carol Miller is a multimillionaire worth over $16 million.”
Financial disclosure forms for 2018 and 2021 show Miller’s net worth using the standard estimation method is approximately $16 million. However, this data is disclosed in ranges and there is no way of knowing if her net worth was higher or lower.
The statement is true but requires additional context, so we rate it as mostly true.