SACRAMENTO, Calif. (Diya TV) — California Gov. Gavin Newsom released four years of federal tax returns this week as he pushed back against claims about his family’s finances. His office said the decision also came as federal investigators continue to examine financial matters connected to his wife, Jennifer Siebel Newsom.

The newly released records cover tax years 2021 through 2024. They show the Democratic governor and his wife reported steady income during that period, except for 2021, when they earned significantly more after selling a home. The disclosure comes as Newsom enters his final year as governor and continues to face speculation about a possible 2028 presidential campaign.

According to the tax filings, the couple reported taxable income of about $1.39 million in 2024. More than $1 million came from investment earnings. Newsom received about $192,000 in taxable wages from his salary as governor. Meanwhile, Jennifer Siebel Newsom earned about $148,000 in wages during the same year.

Newsom had promised to release his tax returns every year after taking office in 2019. However, he had not made them public since his 2022 re-election campaign. This latest release covers four consecutive years and aims to address criticism about the family’s finances.

His office said the tax returns directly challenge claims that the governor and his wife benefited financially through public office or nonprofit activities. Officials added that the documents show a consistent financial picture throughout the four years.

The records also reveal that most of the family’s income continued to come from investments tied to the wine and hospitality industry. Newsom placed those holdings into blind trusts after becoming governor. As a result, the tax returns report income generated from those investments but do not show changes in the overall value of the assets.

The family’s income rose sharply in 2021 because of the sale of a home in Marin County. That transaction added more than $1 million to their taxable income, bringing the total to about $3.5 million for that year. However, their income later returned to more typical levels.

In contrast, the couple’s 2024 taxable income was about 18% lower than what they reported in 2019. Even so, the filings show they continued to earn substantial investment income over the years.

The release also comes as federal authorities investigate financial matters involving Jennifer Siebel Newsom. In June, the governor said the Justice Department had opened what he described as a politically motivated investigation. His aides said investigators have focused in part on his wife’s nonprofit organizations and have interviewed people connected to those groups. However, officials have not publicly explained the full scope of the inquiry.

Jennifer Siebel Newsom earned about $150,000 in wages in 2024 from the Representation Project, the nonprofit organization she founded in 2011. The group promotes awareness about gender stereotypes through films and public education campaigns.

The tax filings also show that her production company, Girls Club Entertainment, has posted financial losses in recent years. For example, the company lost more than $37,000 in 2022. During that year, she received only about $11,700 in compensation from the business.

The returns further show the couple paid an effective federal tax rate ranging from 30% to 35% over the four years. Together, they paid nearly $2.79 million in federal income taxes and about $500,000 in California state income taxes.

In addition, the filings reveal the family spent nearly $200,000 on wages for household employees, including domestic staff and babysitters, during 2024.

Newsom also reported income from his writing projects. He earned about $70,000 as an author in 2023 and another $75,000 in 2024. The filings do not specify whether those payments came from his memoir, “Young Man in a Hurry,” or from other publishing work.

The governor’s office handled the latest disclosure differently than previous releases. Instead of posting the returns online, officials required reporters to review more than 700 pages of tax records in person and take handwritten notes.

While Newsom has not announced a presidential campaign, many political observers continue to view him as a potential Democratic contender in 2028.