Politics & Government

Jack Conway releases tax returns for past three years, challenges Matt Bevin to do the same

Jack Conway
reported gross income last year of more than $4 million after stock sale.
Jack Conway reported gross income last year of more than $4 million after stock sale.

FRANKFORT — Democrat Jack Conway made public his income tax returns for the past three years Thursday and urged Matt Bevin, his Republican opponent in this year's race for governor of Kentucky, to do the same.

Conway's campaign released summaries of his tax returns for 2012 through 2014 and offered reporters the opportunity to review the entire returns at his campaign headquarters in Louisville.

Conway, the state's attorney general, has pounded Bevin, a Louisville investment manager, in recent days for saying he won't release his tax returns during the campaign.

Bevin, who put $1.75 million of his own money into his primary campaign this year, said last week that he would release his returns if elected governor.

Bevin campaign manager Ben Hartman called Conway's release of his tax returns "a sideshow" designed to distract from the Conway campaign's lack of specifics on issue positions.

Conway, filing jointly with his wife, Elizabeth Conway, reported gross income last year of more than $4.12 million, after reporting $233,421 in 2013 and $213,055 in 2012.

The bulk of his taxable income last year came from the Oct. 2, 2014, sale of Kinder Morgan Energy Partners LP stock for a gross amount of $5.38 million.

After the sale, 92.7 percent — or $4.99 million — was reinvested into other U.S.-based energy firms.

They were Access Midstream Partners LP, Breitburn Energy Partners LP, Calumet Specialty Products LP , Crestwood Midstream Partners LP, Energy Transfer Partners LP, EV Energy Partners LP, JP Energy Partners LP, Nustar Energy LP and Vanguard Natural Resources.

The Conways reported paying the federal government last year $1.09 million and $241,316 to the state. They also reported $18,875 in charitable contributions.

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