Aug. 16 (Bloomberg) -- Representative Michele Bachmann of Minnesota, a critic of federal spending, received between $5,000 and $15,000 in income last year from a family farm that has received more than $250,000 in federal subsidies, according to her most recent House financial-disclosure form.
Bachmann, winner of the Aug. 13 Iowa Straw Poll for Republican presidential contenders, also reported that her interest in the farm was valued at between $500,000 and $1 million in 2010; a year earlier, she assigned the value of Bachmann Farm Family LP at between $100,000 and $250,000. Lawmakers can list income and assets in broad ranges.
The farm in Independence, Wisconsin, received $259,332 in federal subsidies from 1995 to 2008, according to U.S. government data compiled by the Environmental Working Group, a Washington-based research and advocacy organization focusing on public health and environmental issues. The farm hasn’t requested federal subsidies since Bachmann’s father-in-law, Paul Bachmann, passed away in 2009, her presidential campaign said in a statement released today.
Bachmann said in an April interview that the farm belongs to her in-laws and that her husband administers it for his mother and brothers. She also said the farm is rented out.
“My husband and I have never received a dime from the farm,” she said. “We list it because he’s a trustee, but we don’t receive any income at all from the farm because he is the trustee and it’s in what’s called a family limited partnership.”
The campaign statement said all the farm income earned by the Bachmanns, who are limited, minority partners, remained with the partnership. “The Bachmanns did not receive any direct financial benefit from the farm subsidies,” the campaign said.
Bachmann voted against raising the U.S. debt ceiling and called for deep cuts in federal spending, including supporting the House Republican plan to end traditional Medicare.
“What we do need to do is dramatically shut down the level of spending,” she said on Aug. 12 on Bloomberg Television’s “Political Capital with Al Hunt.” “We can’t accept the new normal in spending.”
Bachmann, 55, received an extension from the May 15 deadline for submitting the annual disclosure forms. She reported that her husband’s psychotherapy practice and clinic was valued at $600,000 to $1.25 million.
The clinic received $30,000 in government money, which Bachmann said on “Fox News Sunday” in June went to train employees.
“The clinic did not get the money,” she said. “And my husband and I did not get the money either.”
She reported taking three trips with expenses paid by organizations, including one to the anti-tax Club for Growth’s economic conference in Palm Beach, Florida, in November.
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