Lt. Gov. Phil Scott reported Friday that he and his wife, Diana McTeague Scott, earned $221,746 in 2015 and hold $3.1 million in assets.
Scott, a Berlin Republican, was the last of five Vermont gubernatorial candidates to voluntarily disclose personal financial information. Two of his opponents, Republican Bruce Lisman and Democrat Peter Galbraith, released their 2014 tax returns but said they filed for extensions in 2015 and would not provide those returns until later this year.
“We encourage you to continue to ask all candidates to release their 2015 taxes prior to the primary election,” Scott’s campaign coordinator, Brittney Larrabee Wilson wrote in a note to reporters late Friday afternoon as she released her boss’ financial information.
According to a list of assets Larrabee provided, much of Scott’s wealth is tied up in DuBois Construction, a Middlesex excavation company he co-owns with cousin Don DuBois. Scott said his 50 percent stake was worth $2.5 million. The lieutenant governor said his Berlin home was worth $350,000 and that his retirement and savings accounts amounted to $192,290.
The Thunder Road SpeedBowl champion also listed a number of motorized assets: He said his No. 14 race car and parts were worth $50,000, while three motorcycles — including a 1941 Indian — were valued at a collective $30,000. His 50 percent share of a catamaran houseboat was worth $10,000, he said.
According to their 2015 tax return, Scott and McTeague Scott earned $172,270 in income last year. By statute, Scott makes $61,701 as Vermont’s part-time lieutenant governor. The two also reported $46,601 in what appears to be profits from DuBois Construction, which is an S corporation.
The two owed $38,309 in federal and $11,733 in state taxes.
Read Seven Days’ coverage of Lisman’s financial disclosure here; Galbraith’s here and here; Democrat Sue Minter’s here; and Democrat Matt Dunne’s here.
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Very telling that every one of the 5 candidates for Governor are millionaires.
And 3 of those 5 millionaires are politically correct frauds.
I’m not a supporter of Phil Scott, but to me there is a big difference between a candidate who has the bulk of their net worth tied up in a local Vermont business, and a candidate who amassed his wealth working at one of the NY investment banks that collapsed in 2008. Why did the executives who ran these failed institutions end up with fortunes while their shareholders lost so much? Millions of Americans are still suffering from losing their homes and life savings during the economic collapse caused by Wall Street greed and speculation. I admire Phil Scott for earning his money the hard way, through successfully running a small business. I don’t know many people who would list Wall Street investment bankers as good examples of the ethics and virtues required to serve in public office.
I’d say its more like 5 self made millionaires. I gets tiring to hear the bashing of people who work hard, sacrifice when they are young, put in the long days doing blue collar work and then when they finally reach a pinnacle of the fruits of their labor (ie saving their money and investing it) they are demonized by others who are suffering from middle age burn out and wondering where their training wheels fell off……