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Shea and Scott Release Tax Returns, First Ticket To Do So
Shea’s returns show substantial tax payments and charitable contributions
BALTIMORE, MD (May 4, 2018) – Today, Jim Shea and Baltimore City Councilman Brandon Scott released their tax returns, becoming the first full gubernatorial ticket to do so. In a display of transparency and unity, Shea and Scott publicly announced their 2012-2017 tax information ahead of the Democratic primary in June and called on their fellow Democratic candidates and Larry Hogan to do the same.
“We are committed to transparency, both in this campaign and in the Governor’s Office,” said Shea. “Unfortunately, we’ve seen in Donald Trump the dangers of executive elected officials who refuse to release their tax returns or disclose their business dealings. Councilman Scott and I are committed to raising the bar for transparency in Maryland.”
Shea urged his fellow candidates who have not yet released their returns to follow suit. “Public financial disclosures are not enough. President Trump also claimed that his financial disclosures were a satisfactory substitute for his tax returns. The fact is, they do not ensure the same level of accountability. One needs to look no further than Baltimore County and the indictment of Dallas Dance to prove that,” Shea said.
This year, Baltimore County Schools Superintendent Dallas Dance was indicted and later pleaded guilty to perjury for failing to include his consulting income on public financial disclosures.
Shea’s returns show that he and his wife paid $699,752 in Maryland and local taxes and $4,058,185 in federal taxes from 2012-2016, adding up to 37% of their total income earned across all years. The Sheas filed for an extension for the 2017 fiscal year but plan to release those returns later in the year.
The Sheas’ charitable giving amounted to $955,944 over the same period. Environmental groups were among those who received donations, including Friends of the National Arboretum, the Irvine Nature Center in Baltimore County, Baltimore Tree Trust, Washington Youth Garden, Casey Trees, and Blue Water Baltimore. The Sheas also contributed to the American Heart Association, Associated Black Charities, United Way, Baltimore Community Foundation, Legal Aid, and Marylanders to Prevent Gun Violence, among others.
“Over the course of our lives and careers, my wife Barbara and I have had the privilege of meeting and working with so many incredible organizations that really shape the communities that they work in,” said Shea. “It’s been an honor to help them continue their important missions.”
Shea’s running mate, Baltimore City Councilman Brandon Scott, became the first candidate for lieutenant governor in the 2018 Democratic primary to publicly disclose his tax information. Most recently, Scott earned $64,833 in 2017 and paid $13,522 in combined local, state, and federal taxes.
“I think it’s important that any candidate running for an executive office in Maryland, including that of lieutenant governor, be as transparent as possible with Maryland residents,” commented Scott. “During my time on the Council, I have consistently fought for transparency in city agencies and I believe that candidates and elected officials should be willing to put their money where their mouth is, so to speak.”
About Jim Shea and Brandon Scott
Jim Shea is the former Chair of the Board of Regents of the University System of Maryland, the Empower Baltimore Management Corporation, and the Downtown Partnership of Baltimore. He is also the former Chair of Venable LLP, the largest law firm in the state of Maryland.
Brandon Scott is a Baltimore City Councilmember and Chair of the Public Safety Committee. He has served as a community organizer with Big Brothers and Big Sisters and as a representative on the boards of the CollegeBound Foundation, the Center for Urban Families, and Baltimore Community Mediation Center. He is a graduate of Mergenthaler Vocational-Technical High School in Baltimore and St. Mary’s College of Maryland.