Three candidates release tax returns

• By MICHELLE MILLHOLLON
• Advocate Capitol News Bureau
• Published: Oct 12, 2007 - Page: 1A

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State Sen. Walter Boasso made roughly $500,000 in 2006, a quarter of what he took home the prior year, before Hurricane Katrina.

Two of his opponents in the Oct. 20 governor’s race — U.S. Rep. Bobby Jindal and Public Service Commissioner Foster Campbell — made about half of what Boasso did according to their 2006 federal income tax returns.

Jindal, R-Kenner, readily made his return available, as he did when he ran against Gov. Kathleen Blanco four years ago. Boasso, D-Arabi, and Campbell, a Bossier Parish Democrat, followed his lead, releasing their returns Thursday at the request of The Advocate.

A fourth well-financed  candidate, New Orleans businessman John Georges, announced during a candidate forum Tuesday night that his return was publicly available.

“I released my own tax return,” Georges said on television.

However, his communications consultant, John Hill, said Thursday that Georges’ accountant still is finalizing the tax return to comply with next week’s extension deadline. Hill said Georges mistakenly thought the return was ready.

Once Georges signs the return, he will release it, Hill said. Georges has no political party affiliation.

Jindal and his wife, Supriya, reported $275,376 in gross income from salaries, interest, dividends and capital gains. Supriya Jindal worked as a chemical engineer before recently becoming a stay-at-home mom. As a congressman, Jindal makes about $165,000 a year.

The Jindals claimed a $367 child care credit. They have three young children: Selia, Shaan and Slade. They ended up paying $38,356 in taxes, owing the federal government an additional $13,611 on top of that.

Boasso, who sold his St. Bernard Parish tank container company earlier this year for $60 million, reported $1.9 million in taxable income in 2005. The following year, after Hurricane Katrina devastated his parish, his adjusted gross income dropped to $515,029.

His wife, Cindy, is a housewife. Their income included $353,966 in wages as well as nearly $130,000 from real estate holdings.

Boasso made $321,068 as executive of Boasso America and $32,898 as a state senator.

In 2006, Boasso did not take a bonus from his company, Boasso America, whose operations were affected by the storm, said his press secretary, Brian Welsh.