The income tax returns for Chicago mayoral candidate Carol Moseley Braun show a roller-coaster ride for 2008 and 2009 for the former U.S. senator and ambassador.
In 2009, Moseley Braun showed an adjusted gross income of $15,561, but in 2008 she showed a net loss of $225,908. Moseley Braun, who initially refused to release the financial data, claims the loss came from her organic food business, Ambassador Organics, which tanked when the recession reached its peak.
“We are totally transparent … the fact is, I started a small business, an organic food business, at the beginning of the recession. I had no way of knowing the recession was going to kick in and we were going to be facing really hard times,” Moseley Braun told The Chicago Tribune.
“I probably could have folded it early on, but I didn’t. And it’s still standing. And that’s where those losses are,” she continued.
On Jan. 3, Braun told a reporter that she wouldn’t release her tax returns because she didn’t want to. But later on that day, in a television appearance on FOX Chicago News, she changed her tune.
“I was being too flippant about it, frankly, at the time,” said Moseley Braun. “Let me assure everybody that my taxes will be delivered tomorrow. I am committed to transparency in government.”
Despite the release and explanation, other questions about the state of her finances remain. Moseley Braun has yet to answer how she’s still able to afford her home, valued at $1.9 million, on a net income of just over $15,000 a year.
Moseley Braun is facing off against former White House Chief of Staff Rahm Emanuel, Gery Chico and Miguel del Valle in the race; each has released tax information. The primary election is set for Feb. 22.