As multi-millionaire Steve Pearce calls on New Mexico’s unsalaried State Legislature
to forgo their pensions, he continues to collect a hefty congressional salary, use generous benefits, and will receive his own pension worth over $40k each year after retirement. At the same time, Pearce continues to hide his assets and income from the public by refusing to release his tax returns even as he promised to months ago.
“Multimillionaire Steve Pearce is demanding our citizen legislators give up modest benefits while he continues to rake in his Congressional salary, receive taxpayer-subsidized health care, and rack up a big fat pension? What a hypocrite.” said Marg Elliston, Chair of the Democratic Party of New Mexico. “If he really believes what he says, Pearce should lead the way: Release his tax returns like he said he would and give back the millions in salary, benefits, and travel expenses he’s received as a member of Congress to help start paying for the GOP’s $1.9 trillion tax cut.”
As a member of Congress, Pearce has also received benefits like tens of thousands of dollars in travel, and paid his own companies over $17,000 in federal reimbursements.
Let’s compare Pearce and a NM state legislator:
|Pearce (after seven terms in Congress)||NM Legislator (serving 14 years)|
High quality subsidized health care
Pension worth over over $40k per year
No health care
Pension worth about $15k per year
Pearce paid his own companies to shuttle him around in private aircraft.
- 2010: the Albuquerque Journal reported that Pearce spent $17,483.07 in taxpayer dollars paying two of his own companies, Gree Ltd. and Trinity Industries Inc.. “Pearce, who held the 2nd Congressional District seat from 2003 through 2008, pocketed $17,483.07 in federal reimbursements for air travel with two Pearce companies.” [Albuquerque Journal, 10/21/2010]