April 15, 2011
LANSING - Michigan Attorney General Bill Schuette today released a summary of his 2010 federal tax return and announced that he is placing his personal financial assets into a blind trust in order to assure Michigan citizens that the discharge of his official duties will not conflict with his personal financial interests.
"The People of Michigan deserve to know their elected officials are serving the public, not themselves," said Schuette. "That is why I am again voluntarily releasing my tax returns and taking steps to assure the public I will serve as their Attorney General without the potential for conflicts of interest."
Schuette released a summary of his 2010 income tax information to the public, including federal income tax documents. In their joint filing, Bill and his wife Cynthia reported paying a combined $85,695 in federal, state and local taxes in 2010, based on a federally adjusted gross income of $355,330.
The Schuettes also reported donations of $35,997 to charity.
In order to avoid even an appearance of a conflict of interest resulting from serving as Attorney General, Schuette has designated an independent trustee to oversee decisions about personal financial assets throughout his term in office. During this time, Schuette will have no control over or knowledge of how the personal financial assets will be managed.
Schuette also released to the public the preamble to the blind trust agreement, which states that, "(Attorney General Schuette) desires to avoid the appearance that decisions he makes as Attorney General are or could be influenced by his financial holdings."
The Schuettes also voluntarily released their tax information in 2009.