Sen. Elizabeth Warren releases 2018 tax returns
Sen. Elizabeth Warren on Wednesday released her 2018 tax returns, laying bare a key financial record the Democratic Party has made a political issue since President Donald Trump took the unusual step of withholding his own tax returns.
According to the returns, the Massachusetts Democrat and presidential hopeful reported an adjusted gross income of $846,394 in 2018 — $324,687 of which came from writing. The documents said she paid $206,488 in federal taxes in 2018 and owed $24,477 in taxes for the year.
Warren previously released 10 years of tax returns last August.
The move to release her latest returns comes as questions continue to swirl about Trump’s own returns and those belonging to Sen. Bernie Sanders of Vermont, a fellow Democratic presidential candidate who has repeatedly promised to release the information “soon.” Sanders, an independent who revealed Tuesday that his own book deals had made him a millionaire, is expected to release his returns on or before Monday, the tax filing deadline for 2018, according to his campaign manager, Faiz Shakir.
In a statement, Warren touted anti-corruption legislation she introduced last year that would require elected officials and candidates for federal office to make public more robust information about their taxes and other financial dealings.
“There’s a crisis of faith in government — and that’s because the American people think the government works for the wealthy and well-connected, not for them. And they’re right. I’ve put out eleven years of my tax returns because no one should ever have to guess who their elected officials are working for. Doing this should be law,” Warren said.
Her 2018 adjusted gross income was down from the previous year; her 2017 federal income tax filing showed she and her husband, Bruce Mann, who is a professor at Harvard Law School, reported a little more than $913,000 in adjusted gross income.
Earlier this year, as Warren prepared to formally kick off her presidential bid, she filed her first financial disclosure report with the Federal Election Commission, which provided an early look at her finances.
The documents showed that her assets, tucked away in retirement and investment accounts, range in value from $2.59 million and $8.38 million. She also has somewhere between $100,001 and $250,000 in her savings account at the First National Bank of Omaha and smaller amounts in savings and checking accounts at other financial institutions. According to the filing, she also received a $300,000 advance for her book, “This Fight is Our Fight.”
CNN’s Fredreka Schouten, Gregory Krieg Kate Sullivan and MJ Lee contributed to this report.