2023 Income Spike: Inside Governor Hochul & Husband’s Tax Returns

2023 Income Spike: Inside Governor Hochul & Husband's Tax Returns

Governor Kathy Hochul and her husband, Bill, had a financially rewarding year in 2023, bringing home a whopping $2 million in adjusted gross income. This marked a significant increase of $1 million from the previous year, according to media reports analyzing the couple’s tax returns.

The tax filings revealed that the Hochuls paid $610,000 in federal taxes and $123,090 in state taxes. Bill Hochul emerged as the primary earner, securing around $1.5 million from his former employer, Delaware North, before departing in the summer of 2023. In contrast, Governor Hochul’s annual income is approximately $250,000.

Aside from their salaries, the couple made generous charitable contributions in 2023, donating $84,780 in stocks to various organizations. This included 40 shares of Microsoft valued at $14,000 at the time, given to the Franciscan Sisters of St. Joseph in Hamburg. Comparatively, their charitable gifts totaled $58,424 in the previous year.

Bill Hochul also reported additional income sources, citing $80,579 in deferred payments from Delaware North and $45,544 in pension payouts from his tenure as a federal prosecutor. Moreover, the couple received $43,292 in dividends and $18,756 in interest payments, as outlined in their tax documents.

Governors are not required to disclose their tax returns publicly, but the detailed filings from Governor Hochul and her husband shed light on their financial standing. The substantial increase in their income in 2023 reflects a prosperous year for the Hochuls, with considerable earnings and notable contributions to charitable causes. As they continue their public service and philanthropic endeavors, the Hochuls’ financial transparency provides insight into their commitment to both their roles and giving back to the community.

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