Former 2020 candidate Amy Klobuchar released 12 years of tax returns — here's how she makes and spends her money

AP Photo/Carolyn KasterIn this Jan. 15, 2019 file photo, Senate Judiciary Committee member Sen. Amy Klobuchar, D-Minn., during a Senate Judiciary Committee hearing on Capitol Hill in Washington

Sen. Amy Klobuchar of Minnesota is no longer running for president in 2020. On March 2, she announced that she’d be dropping out from the Democratic presidential race and endorsing former Vice President Joe Biden.

In April 2019, Amy released 12 years of her tax returns. Other 2020 candidates like Sen. Elizabeth Warren had also released their tax returns as part of their commitment to financial transparency, which revealed details about their financial lives.

Klobuchar’s tax returns and Senate financial disclosures reveal that while she’s certainly financially comfortable, she’s not as extravagantly wealthy as some other 2020 candidates.

Forbes estimates that Klobuchar and her husband’s approximate combined net worth to be around $US2 million.

Klobuchar’s main income source is her government salary, but she also receives some royalties from her 2015 memoir “The Senator Next Door,” published by the University of Minnesota Press.

Here’s everything we know about how Klobuchar makes and spends her money:


Klobuchar’s 2018 returns revealed she earned $US380,000 in 2018 and paid $US62,000 in federal taxes.

Reuters/Jim YoungFormer Democratic 2020 U.S. presidential candidate and U.S. Senator Amy Klobuchar (D-MN) attends the Centre for American Progress (CAP) Action Fund forum in Washington, U.S., March 5, 2019.

Source:
Amy For America


Klobuchar earns an annual salary of $US174,000 as a senator, and also receives royalties from her 2015 memoir “The Senator Next Door.”

AP Photo/Michael WykeAmy Klobuchar

Source:
Amy For America


According to her 2017 financial disclosures, Klobuchar and her husband also hold investments in a number of mutual funds, stocks, and bonds.

AP Photo/Wilfredo LeeSen. Amy Klobuchar

Source: Senate Financial Disclosures


In 2016, the Centre for Responsive Politics estimated that Klobuchar’s net worth was between $US708,000 and $US1.6 million, a little below the median for US senators.

(AP Photo/Hannah Foslien, File)Sen. Amy Klobuchar.

Source: Centre for Responsive Politics


Klobuchar, who is best known for her relentless work ethic and low-profile approach, lives a relatively modest lifestyle. Her financial disclosure didn’t list any liabilities or major asset transfers.

Jack Plunkett/Invision/APU.S. Sen. Amy Klobuchar, D-Minn., takes part in a ‘Conversations About America’s Future’ program at ACL Live during the South by Southwest Interactive Festival on Saturday, March 9, 2019, in Austin, Texas

Source:
Centre for Responsive Politics


Her 2018 returns show she and her husband John Bessler donated about 1.9% of their income to charity.

AP Photo/Jim MoneAmy Klobuchar with her husband John and daughter Abigail at her presidential announcement.

Source:
Amy For America


We don’t know much about Klobuchar’s major assets, other than that she owns a home at the heart of downtown Minneapolis’ Marcy-Holmes neighbourhood.

ShutterstockMinneapolis’ Marcy Holmes neighbourhood

Source:
Minnesota Daily

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