Connecticut Governor Earns $26 Million Over Three Years in Office – NECN

Democratic Connecticut Gov. Ned Lamont’s adjusted gross income for three of his four years in office totaled nearly $26 million, according to tax records released Thursday in a gubernatorial rematch between two wealthy candidates.

Lamont’s earnings came primarily from interest and dividend income. The former cable TV businessman has not taken the state’s $150,000 annual salary for the governorship since he was first elected in 2019.

Lamont’s re-election campaign released a summary of adjusted gross income, effective tax rate, total charitable contributions, and state and federal taxes he paid for the 2018-2019 tax years. Reporters were also allowed to review the redacted details of his statements. The governor, who files his taxes separately from his wife Annie, a successful venture capital consultant, did not release his 2021 returns. IRS.

Both Lamont and his likely Republican opponent, businessman Bob Stefanowski, rely on millions of dollars of their own money for their campaigns. A recent filing showed that Stefanowski has so far loaned $10 million to his campaign coffers, money that he could theoretically recoup. Some $2.6 million has already been spent.

Lamont, meanwhile, has so far written two checks totaling $1.15 million for his campaign that will not be refunded.

Jake Lewis, the communications director for Lamont’s reelection campaign, asked Stefanowski to release his statements, as well as a list of clients he retained since his last run for governor.

Stefanowski said he plans to release his and his wife’s joint tax returns, including for the 2021 tax year, but did not say when they will be available. Stefanowski criticized the governor for not releasing more information, calling his “attempt at transparency” laughable.

“The governor posted a one-page summary of his income taxes. There is no breakdown, no disclosure, nothing to report that Ms. Lamont makes millions from taxpayer-funded COVID contracts,” Stefanowski said, in an apparent reference to Annie Lamont’s venture capital firm, where she co-founded and managing partner.

Lewis called Stefanowski’s comments “totally and willfully false” and accused the Republican of trying to distract voters from his own record as a former payday loan company executive.

According to a tax summary provided by the Lamont campaign, the governor’s total percentage of state and federal taxes paid in 2018 was 31%; 30% in 2019; and 25% in 2020. He paid more than $5.5 million in federal taxes over the three years and more than $1.8 million in state taxes.

The campaign also released a list of various charities that received part of the $3.1 million in donations Lamont made over the three fiscal years.

The list includes Yale University, Planned Parenthood of Southern New England, Foodshare Inc., CT Against Gun Violence, The Aspen Institute, the Norman Rockwell Museum in Stockbridge, Boys and Girls Clubs of Hartford, the Greenwich Library, the American of Natural History, Nature Conservancy, Connecticut Legal Services, Greenwich International Film Festival, Catholic Charities of Fairfield, and 4-CT, a charity Lamont helped organize during the COVID-19 pandemic.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.