Braun releases tax returns; earned $15,000 in '09

CHICAGO — Chicago mayoral candidate Carol Moseley Braun released her income tax returns on Tuesday, a day after saying she didn't want to and was criticized by her opponents.

Braun, a former U.S. senator who now runs a small organic food company, reported total income of just less than $16,000 on her 2009 return and paid $785 in taxes. She reported a total loss of more than $224,000 on her 2008 return.

Braun's told reporters Monday that she wouldn't release her tax returns before the Feb. 22 election because she didn't "want to," garnering swift criticism by some of the other prominent candidates in the race to replace retiring Mayor Richard Daley.

"Yesterday, my remarks regarding the release of my tax returns sent the wrong message and I regret the statement," she said.

Campaign spokeswoman Renee Ferguson said Braun always planned to release the returns if she made it to the April runoff, which will be held unless one candidate gets a majority of the vote in February. Ferguson said Braun decided to release the taxes now when her staff told her her recent statements had caused a "firestorm."

"She changed so it wouldn't continue to be such a big story and issue," Ferguson said.

Braun, who wants to take over from Daley during tough economic times for the city, explained the state of her finances that were reflected on the tax returns as those of a struggling small business operator.

"My returns are one measure of the fight I have waged to keep my business running. It is not unlike what many small business owners and regular Chicago families are going through," she said in a statement. Braun has touted her business experience as a reason she'd make a good mayor.

She also took a shot at two of her opponents, former White House chief of staff Rahm Emanuel and Gery Chico, a lawyer who was a former top aide to Daley and a former Chicago school board president.

"The reality is that unlike Mr. Emanuel and Mr. Chico, who traded on their government relations for vast riches when they left office, I did not," Braun said.

Chico and his wife reported total income in 2009 of $2.8 million. Emanuel and his wife reported total income of more than $227,000 that year and nearly $2 million since filing their 2005 return.

"Instead of indiscriminately attacking other candidates, Carol would be better served if she were simply transparent and released the remainder of her tax returns," said Chico spokeswoman Brooke Anderson in a statement. Braun's release of her taxes online didn't include any attachments.

The other major candidate in the race, Chicago City Clerk Miguel del Valle, has also released his income tax returns.