California Governor Gavin Newsom has one day remaining to fulfill his pledge to release his latest tax returns, a deadline that arrives amid ongoing federal investigations into his financial dealings and those of his wife, first partner Jennifer Siebel Newsom.
Newsom's office has not provided a definitive answer on whether the tax returns, which have not been publicly released since tax year 2020, will be made available by the end of July. This comes two weeks after his office assured The Post that "the remaining returns will be shared this month." The governor's office had previously characterized the delayed filings as "unremarkable and entirely consistent with what Californians already know from his annual Form 700 disclosures."
"The Governor publicly released his tax returns while he was on the ballot and is happy to go above and beyond by releasing the remaining years as well," spokesperson Diana Crofts-Pelayo stated in an email.
The governor and Siebel Newsom are reportedly subjects of federal probes, with one investigation focusing on the first partner's taxes. These investigations gained public attention after Newsom's ex-chief of staff, Dana Williamson, pleaded guilty in May to charges including conspiracy to commit bank and wire fraud and filing a false tax return. Williamson is scheduled for sentencing on September 17.
Newsom has publicly criticized these investigations, labeling them a "witchhunt" and accusing the Trump administration of weaponizing the Justice Department against him, a potential contender for the 2028 presidential election. He has contrasted his own transparency with former President Donald Trump's refusal to release his tax returns before and after the 2016 election. Returns from 2015 to 2020 were later released by Democrats in 2022.
During his 2018 gubernatorial campaign, Newsom released multiple years of tax returns dating back to 2011. He also signed legislation in 2019 requiring candidates for governor to disclose five years of federal tax returns as a condition of appearing on California's primary ballot, while promising to continue releasing his own returns annually.
The last disclosed returns, for tax year 2020, showed the Newsoms earned nearly $1.5 million and paid approximately $480,000 in federal taxes. Much of their income originated from Newsom's ownership interests in wineries, restaurants, and hotels, which were placed in a blind trust upon his assuming the governorship. Consequently, the tax returns no longer specify the exact businesses generating income or losses.
When pressed earlier this month about the delay, Newsom deflected, quipping, "I know you love taxes," before pivoting to criticize President Trump. When reminded of his past emphasis on financial transparency, he asserted he had released his taxes "for decades" and stated, "And you will have all those new tax returns, because— I have no reason why you haven’t gotten them already."
In previous instances where Newsom's tax records were made public, access for reporters was limited, with the Los Angeles Times reporting in 2021 that journalists had about an hour to review thick stacks of documents before being required to leave. It remains unclear whether Newsom will opt for a similar limited review or post the returns publicly.