Governor Kathy Hochul’s Income Skyrockets in Second Term

Written by Daniel Anderson.

New York Governor Kathy Hochul and her husband, Bill Hochul, experienced a significant increase in their income during her second term, with their combined earnings reaching nearly $2 million in 2023. But Democrats aren’t corrupt. Everyone’s income doubled overnight, right?

Surge in Hochul Family Income

The Hochuls’ financial disclosure, reported by City & State, shows their gross income jumped to about $1,902,102, effectively doubling their previous year’s earnings. This boost was primarily due to Bill Hochul’s role as a senior vice president and general counsel at Delaware North, a major player in the gambling industry, where he raked in $1.5 million before his mid-year departure from the company.

Tax Contributions and Additional Earnings

In terms of their tax obligations, the Hochuls paid $610,072 in federal taxes and an additional $123,090 in New York state taxes. These figures correspond to tax rates of 32.94% federally and 6.85% at the state level. Their income was supplemented by $80,579 in deferred payments from Delaware North and $45,544 in pension payments from Bill Hochul’s tenure as a federal prosecutor, a position appointed by former President Barack Obama.

Comparison of Incomes

Governor Hochul’s own salary contributed $250,000 to their total income, stemming from her gubernatorial duties. She assumed office following the resignation of Andrew Cuomo amid severe allegations and scandals, and later won a full term against conservative opponent Lee Zeldin in 2022.

Charitable Contributions

The Hochuls also reported charitable donations totaling around $85,000, supporting organizations such as the American Diabetes Association, the Erie County SPCA, Planned Parenthood, the Fresh Air Fund, the World Wildlife Fund, and Habitat for Humanity.

Transparency in Financial Disclosures

While not required by New York law, Governor Hochul chose to follow the tradition of past governors by publicly releasing her tax returns, a move touted as a commitment to transparency by her office.

Our Take

Governor Kathy Hochul’s substantial increase in income, primarily driven by her husband’s lucrative position at a gambling company, raises questions about the intertwining of personal profit and public service. As conservatives, we champion transparency and accountability, especially when public officials may benefit financially from private sector connections. This situation underscores the need for stringent ethical standards and clear boundaries between personal financial interests and public duty.

The Governor’s commitment to transparency by releasing her tax returns is commendable. However, it also brings to light the potential conflicts of interest and the influence of private wealth in public governance. It is crucial for voters and watchdog groups to remain vigilant, ensuring that leaders do not lose sight of the public good in pursuit of personal gain.

As we look ahead, the financial dealings of public officials should continue to be scrutinized to maintain trust and integrity within our governmental institutions. The prosperity of a few should not overshadow the needs of the many, especially in a state as diverse and populous as New York.

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