Democratic candidate for Iowa governor made $3M in 2017
Aug. 29, 2018
DES MOINES, Iowa (AP) — Iowa Democratic candidate for governor Fred Hubbell say he and his wife earned $3 million in 2017 and gave $1.3 million to charity.
Hubbell's campaign released details of his 2017 income and giving in announcing Wednesday that he would only release one year of his tax returns. The campaign said his 2017 returns would be made available to reporters Thursday and, if elected, he'll release them annually.
Republican Gov. Kim Reynolds has released 10 years of returns online, showing 2017 income of $163,000 and $17,000 donated to charity. She has made Hubbell's wealth a campaign issue, suggesting he's out of touch.
Hubbell's campaign said that federal adjusted gross income for him and his wife Charlotte was just over $3 million. They gave $817,000 to charities, leaving a taxable income of $1.6 million. Their foundation donated an additional $458,650.
Hubbell served as a corporate director in 2017 and reported income from investments and other holdings. His family wealth dates to the 1800s.