STAFF REPORT
Candidates and elected officials are not legally required to provide income tax information as a condition of holding public office. Yet some critics say that is the only way to determine if an elected official stands to benefit from legislation they will vote to enact, or deny.
Most states require candidates and office holders to complete a personal financial disclosures statement. The information on it includes employment (but not compensation), investments held, the net gain or loss if a stock or mutual fund was sold, income from dividends, royalties and rent, personal loan notes and lease agreements and business interests.
The form also asks about gifts worth more than $250, trust income, blind trusts, business assets and liabilities, positions on boards, and whether the filer has a business interest with a lobbyist, as well as a few other disclosures.
A cursory review of a handful of Texas legislators revealed that some information may be missing or incomplete. But that type of data cannot be hidden on an income tax form.
The Texas Tribune recently reported that only two of the 180 members of the current Texas State Legislature provided their tax returns in response to the news outlet’s request.
Those legislators were Reps. James White, R-Hillister, and Elliott Naishtat, D-Austin.
The Tribune reported that in response to its request, most state legislators said they’re not comfortable doing more than what the law requires. However, they acknowledged they write the laws.
During the General Election campaign, Perry encouraged Republican candidate Mitt Romney to provide his income tax documentation. The Tribune reported that Perry and Lt. Gov. David Dewhurst released theirs during runs for governor and U.S. Senate, respectively.
Gov. Rick Perry has called on fellow Texas politicians to release their income tax information in an effort to show transparency in government.
Last fall, he told reporters at the state capital, “I’m a big believer that no matter who you are, or what office you’re running for, you should be as transparent as you can be with your tax returns and other aspects of your life so that people have the appropriate ability to judge your background and what have you,” according to the Associated Press.
