Warren’s latest financial dislosure shows tax rate steady

Senator Elizabeth Warren and her husband earned slightly less income in 2022 than the year before, mainly due to a smaller book advance, according to financial disclosures she released Friday.

The filings are the first released since Warren announced her re-election last month . Warren and her husband, Bruce Mann, reported earning $1.14 million total in 2022 on their tax returns, down from the $1.36 million they made the year before. They paid more than $325,000 in taxes, or nearly 32 percent of their taxable income of $1.017 million.

The biggest source of fluctuation for the couple was Warren’s book-related earnings. The Massachusetts Democrat reported earning roughly $420,000 in the final installment of her advance for her 2021 books “Pinkie Promises” and “Persist.” . In 2021, she collected a $730,000 piece of the advance for those books, and in 2020 she received $250,000.

The couple also holds between $4 million and $9 million in investments and savings, and possibly more depending on the true value of two accounts held by Mann. Having introduced legislation to ban lawmakers from trading individual stocks to avoid conflicts of interest, Warren and Mann’s holdings are in index and mutual funds.

Warren is a vocal proponent of financial equity, a supporter of taxing the ultra-wealthy to pay for more social services in the United States. While her income and wealth puts her in the top 1 percent of earners in the nation, she is not in the elite bracket that she advocates taxing at much higher rates.

Warren earned roughly $173,000 as a senator and Mann earned roughly $407,000 from his professorship at Harvard University. They also collected some retirement income and other royalties.

The couple reported giving more than $50,000 to charity, close to 5 percent of their adjusted gross income, in keeping with the previous year. Warren has released her tax returns every year since she entered public service, going back to 2008.