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Thursday, October 17, 2013
RICHMOND - Democratic gubernatorial candidate Terry McAuliffe reported adjusted gross income of $9.4 million last year, according to a 2012 tax summary released by his campaign Wednesday evening.
The McLean businessman and former Democratic National Committee chairman also claimed roughly $1 million in itemized deductions on the income and paid $2.74 million in taxes, according to the two-page Form 1040 provided by the campaign.
The release of the tax information fulfills an earlier promise made by McAuliffe's campaign to release his tax summaries following pressure by Republicans and GOP rival Ken Cuccinelli .
Cuccinelli produced eight years of complete tax filings earlier this year after an embarrassing episode in which he disclosed that he had neglected to list some gifts received from Star Scientific CEO Jonnie Williams , the wealthy donor at the heart of the gift scandal engulfing Gov. Bob McDonnell.
The move was unprecedented among statewide candidates, and led the Republican to challenge McAuliffe to do the same . McAuliffe released tax summaries for the previous three years, and promised to release his 2012 numbers when he filed.
Between 2009 and 2011, McAuliffe made roughly $16.5 million. The 2012 filing brings that total to roughly $24.9 million. His income dwarfed that of Cuccinelli, who took in between $100,000 and $300,000 annually between 2005 and 2012.
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