Details below as described by Democratic U.S. Rep. Murphy’s Senate campaign in an email accompanying the documents.
Ex-U.S. Rep. Chris Shays, who is seeking the GOP nomination for Senate, released his returns yesterday.
Murphy’s major opponents for his party’s nomination – Susan Bysiewicz and William Tong – have said they too will make the information public.
Not so Linda McMahon. The World Wrestling Entertainment maven, who sunk $50 million into a failed Senate bid in 2010 and is considered the front-runner for the party’s nomination this year, continues to claim she’s released enough financial information.
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Attached is the 2011 federal and state tax return for Congressman Chris Murphy, and his wife, Cathy Holahan. Personal information has been redacted.
Their federal income tax amounted to $35,326, plus $1,207 in Alternative Minimum Tax and $2,209 in household employment taxes. They paid a combined $10,546.88 in Social Security and Medicare taxes. Their total federal tax was $49,288.88 on $220,353 of income.
Chris and Cathy owed $11,423 in Connecticut income taxes, in addition to $7,484 in property taxes to Cheshire, Connecticut in 2011.
Chris and Cathy overpaid their federal taxes during the year and should receive a $6,757 refund. They owed and paid an additional $351 to the State of Connecticut.
Because they did not keep complete records of their expenses, Chris and Cathy did not take any deductions other than mortgage interest and taxes paid. For instance, Chris and Cathy did not deduct their 2011 gifts to charity, though they gave to several organizations, including the United Way, the Center for Childrens’ Advocacy, and NARAL Pro-Choice Connecticut.
Chris and Cathy’s effective 2011 federal tax rate was 22.4%. Chris and Cathy’s total tax rate, including all federal and state income, property and payroll taxes, was 31.0%.