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Saturday
Jun212014

Brown For US Senate - SCOTT BROWN MAKES PUBLIC EIGHT YEARS OF JOINT TAX RETURNS 

MANCHESTER - Today, Scott Brown and Gail Huff are making available eight years of joint federal and state income tax returns, covering the years 2006-2013, an unprecedented level of transparency for a New Hampshire candidate. The campaign also announced Brown’s personal financial disclosure (PFD) had been filed with the Senate Ethics Committee. Brown called on Senator Jeanne Shaheen to now fulfill her promise and commitment to release her returns.
 
The tax returns will be available for inspection by credentialed members of the media until 4 PM today at Brown’s campaign headquarters in Manchester. Reporters seeking to examine the tax returns should contact Elizabeth Guyton at
eguyton@scottbrown.com.
 
The financial disclosure can be viewed here.
 
“Scott Brown is going above and beyond what the law requires in terms of disclosure,” said Colin Reed, campaign manager for Brown. “By releasing eight years of joint tax returns, the Browns are proving they are committed to transparency and accountability. We expect that Senator Shaheen will also release eight years of joint returns, as she promised if Scott Brown did the same.”
 

During a June 8th interview on WMUR, Senator Shaheen promised to release her taxes, saying, “If my opponents agree to release their tax returns, then that’s something that we would do.”
 
The Brown's tax returns indicate that their income declined about 21 percent in his first year out of office. Key points on the tax returns include:

  • The Brown's 2013 income was $474,080, marking a $128,807 decline from their 2012 income, which was $602,887;
  • Their effective tax rate in 2013 was 24.10%;
  • Brown earned $108,173 in 2013 working as a commentator for FOX News;
  • Brown earned no income from Global Digital Solutions Inc., as he said when he resigned his advisory role from the company earlier this month.

The table at the bottom of the release provides a summary of the federal taxes that Brown and Huff have paid since 2006. 
 
Brown’s PFD covers 2013 in its entirety, as well as 2014 to date.

  • Over the course of 20 speeches, he earned a total of $186,514 in speaking fees, for an average of $9,325.70 per speech; 
  • He earned $31,916 as an adviser to 1st Alliance Lending, a Hartford, CT-based group that helps employed homeowners who are struggling to make ends meet stay in their homes. In 2014, 1st Alliance self-reported and paid a fine to the Consumer Financial Protection Bureau for actions that took place prior to Brown joining the company. 1st Alliance Lending is not affiliated with the California-based First Alliance Mortgage Company, a subprime lender;  
  • Brown earned a total of $277,408 from Kadant Inc. in 2013 and 2014, which includes both an annual retainer and vested stock options. The PFD does not include the restricted stock Brown only receives if the company changes hands.
 
   

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