Casey releases tax returns for '01-'05
2006-10-19
Source: The Morning Call
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rss feedDemocratic U.S. Senate candidate Bob Casey Jr. and his wife, Terese, have long relied on his six-figure income as an elected state official to support themselves and their four daughters, tax documents show.
Casey released the last five years of his IRS tax returns on Wednesday, fulfilling a pledge he made at a debate Monday night with his opponent, Republican Sen. Rick Santorum.
The returns show that nearly all of the couple's income flowed from his jobs as state auditor and state treasurer, the office he currently holds.
Casey and his wife reported an adjusted gross income of $121,104 on their 2005 federal income-tax return, a 4.25 percent increase over 2004.
They gave $2,198 to charity in 2005, or 1.8 percent of their gross income, and donated clothing they valued at $1,421. They paid $12,543 in federal taxes and were owed a refund of $1,280.
The couple itemized their returns, claiming deductions for state and local taxes, mortgage interest, student loan interest and charitable giving. They also claimed $2,400 in child tax credits in 2005.
In 2004, the Caseys reported an adjusted gross income of $115,955.
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