As SCOTUS Rules on Tax Returns, Questions Remain About Greg Gianforte’s Eyepopping $184 Million Income  

Rachel Prevost2020, Gianforte, News, Republicans

FOR IMMEDIATE RELEASE
Friday, July 10, 2020

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As SCOTUS Rules on Tax Returns, Questions Remain About Greg Gianforte’s Eyepopping $184 Million Income
 
Helena, MT – Yesterday morning, the U.S. Supreme Court issued rulings in two cases focused on President Trump’s ability to withhold his tax returns from the public. Just days before, Greg Gianforte released carefully selected portions of his tax returns– right before a holiday weekend – which showed that he earned $184 million over the past ten years, nearly 3,500 times as much as the average Montana family makes per year ($55,000). Despite claiming “openness” and “transparency,” important questions still linger about Gianforte’s tax returns.

Among the questions that remain:

  • Gianforte earned $184 million over 10 years, but reported $132 million in federal taxable income. What accounting maneuvers did he pursue to avoid taxes on the other $52 million?

  • Greg Gianforte voted for the Tax Cuts and Jobs Act in 2017, which cost taxpayers $1.9 trillion. In Montana, the richest 1% received a tax cut more than 1800 times greater than the average Montanan. When Greg Gianforte voted to slash taxes for corporations and the wealthiest Americans, how much money did he make for himself?

  • Since 2016, Greg Gianforte has spent over $11 million dollars on his various campaigns for political office, and “he’s prepared to spend much more.” He’s already spent more than $1.5 million on his current campaign – how much more is he planning to spend? 

  • Greg Gianforte wants to eliminate the state income tax and replace it with a sales tax, shifting the burden from wealthy individuals like himself to hard-working Montana families. If Gianforte were successful, how much of his taxes would he have pushed on to working Montanans?

“Greg Gianforte has made his intentions clear – after falling short in 2016, he’s willing to once again spend millions of dollars on his own campaign for Governor,” said MDP Deputy Communications Director Matt Fidel. “Still, working families have serious questions about the nature of the multi-millionaire from New Jersey’s staggering wealth. Gianforte owes them answers.”

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