Republicans in US Senate race would face deep pay cuts if elected
BOSTON -- Each of the three Republican candidates in the state's special U.S. Senate election would be facing a hefty pay cut if they win, earning far less in Congress than they've been paid in their private-sector jobs.
Michael Sullivan, Gabriel Gomez and Daniel Winslow have been earning several times the $174,000 annual salary paid to senators, according to an Associated Press review of financial disclosure forms they submitted.
Of the three, Sullivan reported the highest salary of $730,000 from the Ashcroft Law Firm, where he is also a partner.
Gomez reported an income of $726,870 from the private equity firm Advent International.
Winslow reported a salary of $658,103 from the law firm of Proskauer Rose. That's besides the nearly $78,000 he was paid by the Commonwealth of Massachusetts as a state representative from Norfolk.
For the two Democrats in the race, U.S. Reps. Stephen Lynch and Edward Markey, the jump from the House to the Senate would be less dramatic.
Members of Congress earn a base pay of $174,000, and in their 2011 financial disclosure statements neither Markey nor Lynch reported any additional salary beyond their congressional earnings.
The disclosure forms did give a more in-depth look at the candidates hoping to fill the seat left vacant by the resignation of John Kerry to become secretary of state.
Besides his annual income of $730,000, Sullivan reported a $34,365 annual state pension and an $8,480 annual pension from the Gillette Company.
Gomez reported owning stock in dozens of companies, including Apple, Merrill Lynch, Goldman Sachs, Visa, Exxon Mobil, Target, Kraft Foods and Philip Morris in his disclosure form.
Winslow reported retirement and 401(k) holdings in dozens of companies, including Exxon Mobil, Monsanto, Comcast, Microsoft, and Internet companies including LinkedIn, Priceline, Facebook, Google and Amazon.
Markey listed two dozen money market and technology funds owned by his spouse. Under his liabilities, Markey reported a mortgage of $100,001 to $250,000 on his home in Malden and a second mortgage of between $250,000 and $500,000 on his home in Chevy Chase, Md.
Lynch reported several retirement accounts. He also reported two mortgages on properties in South Boston. One mortgage was $100,001 to $250,000. The second mortgage was between $250,000 and $500,000.
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