Terry McAuliffe releases income tax info

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Local,Virginia,Steve Contorno,Taxes

Democrat gubernatorial candidate Terry McAuliffe on Tuesday released summaries of his income tax returns for three years in hopes of blunting criticisms from his Republican opponent for governor, Attorney General Ken Cuccinelli, that he has something to hide.

Cuccinelli, who let reporters view eight years of full tax returns last week, quickly admonished McAuliffe for releasing only select information.

McAuliffe and his wife, Dorothy, earned $8.2 million in 2011 and paid $2.3 million in taxes, a rate of about 28 percent. He paid $567,000 in taxes on $1.8 million income in 2011 and $1.4 million in taxes on $6.5 million in income in 2009, the summaries show. Returns for last year were not yet available.

McAuliffe spokesman Josh Schwerin said the summaries should put to rest calls from Cuccinelli to release his returns.

"Terry has completed his Statement of Economic Interests and is releasing several years of tax return summaries, going above and beyond the disclosure requirements," Schwerin said. "In contrast, Ken Cuccinelli believes Virginia's disclosure rules don't apply to him. After repeatedly failing to accurately disclose his relationship with Star Scientific, Cuccinelli is now using a loophole to avoid an investigation."

The Virginia governor's race is suddenly looking more like last year's presidential race, when President Obama hammered Republican Mitt Romney for months for not releasing his taxes, insinuating that Romney had something to hide.

Releasing taxes returns is rare for a Virginia gubernatorial candidate. But Republicans now have plenty of tape of McAuliffe and other top Democrats demanding that Romney release his returns and hope to portray him as hypocritical.

"Lest there be any confusion, tax summaries are not tax returns," said Cuccinelli spokeswoman Anna Nix. "Terry McAuliffe needs to come clean with Virginians. Releasing three years of summaries after Ken Cuccinelli allowed the press to fully examine eight years of returns just isn't going to cut it." - Steve Contorno

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