Top, a carriage barn previously owned by Gov. Dannel P. Malloy and serving as his primary residence before the 2010 election, sold for $1.3 million in April of this year. Bottom, the $7.3 million midcountry Greenwich estate of Republican gubernatorial candidate Tom Foley. File photos.
A Democratic incumbent with sagging approval ratings forcing the hand of his Republican private equity manager opponent to release his tax returns — where have we heard that one before?
Gov. Dannel P. Malloy will release four years of tax returns by next week and possibly as early as Thursday, his senior campaign adviser Mark Bergman told Hearst Connecticut Media Wednesday after the newspaper group requested them from Malloy and Republican opponent Tom Foley.
Foley’s campaign said it would have to get back to Hearst on its request, which is standard in high-profile races.
Bergman said that the governor’s re-election campaign will make the four-page summary sheets of Malloy’s tax returns publicly available, not the entire 1040 form.
Shedding light on how much candidates pay in taxes, use creative accounting techniques and their overall wealth, tax returns have become required reading for members of the media and opposition researchers in modern campaigns.
In 2012, Republican presidential candidate Mitt Romney, who shares a similar private equity background as Foley, capitulated after months of pressure to release his tax returns for the prior year.
Foley waited until 13 days before the 2010 election, which he lost by a razor-thin margin to Malloy, to release his tax returns. They showed that Foley paid more in taxes in 2009 than Malloy and his wife, Cathy, earned together.