Scott Brown releases 8 years of tax returns, financial disclosure for ’13, ’14 to date

CONCORD – Republican U.S. Senate candidate Scott Brown and his wife reported 2013 income of $474,080, and their annual joint earnings ranged from $287,906 to $839,520 over the past eight years.


Brown and his wife, Gail Huff, on Friday released eight years of joint federal and state tax returns, from 2006 to 2013, and he called on Democratic incumbent Sen. Jeanne Shaheen to do the same. Her campaign said she will release fher tax returns for 2009 through 2013, the years she has been a senator, soon.


Brown’s Senate campaign also released his financial disclosure form filed with the U.S. Senate Ethics Committee. Brown had received an extension of the original May 15 deadline, until Aug. 9, but released the form on Friday.


Click here for the financial disclosure form.


Brown made the announcement that he was releasing his returns during a debate with Republican primary opponents Bob Smith and Jim Rubens on Friday morning. The debate will be aired on WMUR’s “Close-Up” program on Sunday morning.


The Brown campaign called the disclosure of eight years of tax returns “an unprecedented level of transparency for a New Hampshire candidate.”


The Browns’ income fell by 21 percent in his first year after being defeated by Elizabeth Warren in his reelection bid to the Senate from Massachusetts, from $602,887 in 2012 to $474,080 in 2013, according to Brown’s campaign.


They paid $114,630 in federal taxes in 2013, for an effective rate of 24.1 percent, the campaign said. The couple’s average effective tax rate over eight years was 23.6 percent.


The campaign said Brown earned $108,173 in 2013 in his role as a commentator for FOX News.


It said he received no income from Global Digital Solutions Inc., the obscure Florida firm he had advised and from which he had received stock initially valued at $1.3 million.


The financial disclosure form filed with the Senate Ethics Committee covers all of 2013 and 2014 to date. It shows he received he earned a total of $186,514 in fees for 20 speeches, an average of $9,325.70 per speech.


He received $20,000 for speaking at a Las Vegas conference hosted by hedge fund giant Skybridge Capital last month, his disclosure form shows.


He received $12,000 from the government of Taiwan for a speech in Taipei in February.


Brown earned $31,916 as an adviser to 1st Alliance Lending, a Hartford-based group that, according to the campaign, “helps employed homeowners who are struggling to make ends meet stay in their homes.”


The campaign disclosed: “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. Kadant is a self-described “leading supplier to the global pulp and paper industry.”
In a statement, Brown campaign manager Colin Reed said: “Scott Brown is going above and beyond what the law requires in terms of disclosure. 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.”


The Shaheen campaign said she will keep her promise and release five years of tax returns soon.

Author: John DiStaso

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  • Mick

    Nice non-work if you can get it.