National Politics

Pete Buttigieg releases 10 years of tax returns

Taxes show he's among lowest earners of 2020 Dems

(CNN) - Pete Buttigieg released 10 years of tax returns on Tuesday that show the mayor of South Bend, Indiana, is among the lowest earning Democrats in the 2020 field.

Buttigieg -- whose taxes show he has the lowest incomes of all the Democratic presidential candidates who have released their taxes so far -- is the latest Democratic candidate to release their returns. The release is in line with what past presidential candidates have done and is a direct rebuke of President Donald Trump, who has kept his own finances out of view.

Buttigieg and his husband Chasten, a teacher, had an adjusted gross income of $152,643 last year and paid an effective tax rate of 13%.

Before their 2018 marriage, Buttigieg filed as a single tax payer. His adjusted gross income in 2017 was $133,565. He earned $109,245 as the mayor of South Bend and earned about $25,000 as an advance to write his book, "Shortest Way Home," after expenses.

Buttigieg is among a handful of Democratic candidates who have released their taxes as they run for the presidency. Sen. Cory Booker and Rep. Tim Ryan released their taxes in the last week, and Sen. Bernie Sanders, former Rep. Beto O'Rourke and others released their taxes earlier this year.

Buttigieg's aide has said for months that he would release his taxes once he officially got into the race. The South Bend mayor, after months of "exploring" a 2020 run, officially announced a bid earlier this month with a rally in his hometown.

Buttigieg, who began his time as mayor in 2012, earned adjusted gross incomes of $121,952 in 2015 and $110,039 in 2016.

Due to his public service and military deployment, Buttigieg has had years in which his income was closer than any other Democratic candidate's to the median US income. In 2017, that was $61,372, per the Census Bureau.

Buttigieg had an adjusted gross income of $46,150 in 2014 because he deployed to Afghanistan and took an unpaid leave of absence as mayor.

And while he earned adjusted gross incomes of $106,635 in 2012 and $116,053 in 2013 -- his first two years as mayor -- Buttigieg had an adjusted gross income of $7,115 in 2011 when he was 29, the year he ran for office.

He owed zero taxes that year. Combined with his mortgage interest and property taxes, he had a negative taxable income and thus received an earned income tax credit of $1,085.

In 2010, he left his job to run for state treasurer -- a race he lost -- and had an adjusted gross income of $33,824.

Prior to working as mayor of South Bend, Buttigieg worked for McKinsey & Company, a multi-national management consulting firm. Buttigieg earned an adjusted gross income of $149,827 in 2009, the one year of tax returns he released from his time at McKinsey.


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