The Democrat who is running for governor of Iowa has released the state and federal tax returns he and his wife have filed, revealing taxable income of nearly $469,000 during 2013.
State Senator Jack Hatch of Des Moines — the only Democrat running for governor — is a property developer. Hatch allowed reporters to view his tax returns and the documents show Hatch and his wife, Sonja, paid over $88,00 in federal income taxes and almost $29,000 in state income taxes. The couple donated over $19,000 to charity in 2013. That’s about four percent of their total income.
Jack and Sonja Hatch own two companies. One develops properties. The other manages apartments. The couple also has partnerships in seven different real estate developments in Des Moines and Cedar Rapids. Hatch will later release an estimate of his net worth.
Hatch also has released a letter from his doctor today, saying Hatch is in “generally good health.” Hatch had a physical last week. The doctor said the 64-year-old candidate has had an elevated cholesterol level as well as a family history of high blood pressure, but those are “well controlled” with medication.
Governor Terry Branstad plans to release the details of his income tax returns tomorrow. Branstad’s reelection campaign this morning challenged Hatch to release his tax returns for the past five years — Branstad has made his own returns public during that time period. Hatch’s campaign manager says the senator is releasing his returns from the previous year.
Branstad’s campaign spokesman Tommy Schultz suggests Hatch is “deeply worried” about something in his past tax returns. Branstad made his opponent’s tax returns a major issue in the 1982 campaign.