Governor Gavin Newsom announced plans to release his tax returns spanning his current term, responding to increasing scrutiny from a Department of Justice investigation into his family’s finances. Newsom’s office confirmed it is actively preparing the documents, signaling a break from years of withholding these records.
Newsom had previously committed during his 2018 gubernatorial campaign to regularly disclose his tax returns, positioning this pledge as a contrast to former President Donald Trump’s refusal to do so. However, after releasing returns through the 2020 tax year, Newsom stopped sharing them publicly following his 2022 reelection, leaving a multi-year gap in transparency.
The governor’s spokesperson emphasized that both Newsom and his wife, Jennifer Siebel Newsom, have disclosed all tax returns filed while he was a candidate, but acknowledged ongoing efforts to release the remaining filings. This release is framed as part of a commitment to transparency, despite the ongoing federal inquiry reportedly focusing on Jennifer Siebel Newsom’s financial dealings as well as individuals close to the governor.
Critics have flagged Newsom’s delayed disclosures as hypocritical and questioned what the family may be withholding, particularly as the investigation intensifies. The Newsoms’ substantial wealth, including multiple multi-million-dollar properties and business interests in the wine industry, has been under the spotlight amid revelations of federal probes examining their financial activities.
Newsom’s 2020 tax return indicated the couple earned approximately $1.5 million in income and paid around $480,000 in taxes. While no timeline has been provided for when the remaining returns will be released, the governor has indicated these documents will be shared “in a controlled setting” with reporters, aiming to manage the narrative around the investigation.