Cuomo to make over $5M from book deal

Governor Andrew Cuomo’s book, published last fall, sold about 50,000 copies before the governor became controversial earlier this year. | Mary Altaffer-Pool / Getty Images

ALBANY, NY – New York Governor Andrew Cuomo received $ 3.12 million from Penguin Random House for his pandemic memoir, “American Crisis”, ” According to tax returns, he published on Monday. And he will receive an additional $ 2 million from the publisher in the coming years.

Cuomo’s financial records indicate that its net income from this initial payment of $ 3.12 million after taxes and expenses was $ 1.54 million. Since then, he has donated $ 500,000 to the United Way of New York State to aid in pandemic “recovery and vaccination efforts”.

The remaining $ 1 million and change were placed in a trust for his three daughters. They gave him “the strength and love to get through the crisis every day,” Cuomo advisor Rich Azzopardi said in a statement.

The book, published last fall, sold about 50,000 copies before the governor got into controversy earlier this year. The publisher stopped advertising the book and decided not to publish a paperback version.

It’s the biggest payday Cuomo has reported since taking office as governor in 2011. In addition to the money he earned for his day job and capital income, he previously made $ 783,000 four years apart for his 2014 book All Things Possible.

It’s also probably the largest sum of money a governor has ever made in a state where previous business leaders had names like Rockefeller and Lehman. And it’s also at Ballpark the sum of external revenue reported by all 213 state legislatures in the 2019 calendar year – they don’t need to state exact amounts on their disclosure forms, they just make them somewhere between $ 3.5 million and $ 5.8 million.

Cuomo has previously railed against these part-time jobs of the legislature.

“No foreign income – period. Period, ”he said when asked during a debate in 2018 what he would be pushing for in his third term to resolve Albany’s corruption problem. “This is the only way to solve the problem.”

But now it is Cuomo’s external income that has been fully scrutinized. State Comptroller Tom DiNapoli has given Attorney General Tish James the authority Investigate allegations of the bookstore, including the possibility that they used tax dollars to write it. The book trade is also one of the many subjects under scrutiny by the Assembly’s Judiciary Committee as it decides whether an attempt to indict Cuomo is warranted, and it appears that the Joint Public Ethics Commission You may have been interested in investigating.

In addition to book money, Cuomo reported $ 218,000 in income from daily operations in 2020. He also reported capital gains of $ 428,429, largely due to his blind trust with AMG National Trust Bank.

He paid a total of $ 1.24 million in federal taxes and $ 303,300 in state taxes.

The numbers were swiftly condemned by Cuomo’s critics on the right – “At least it shouldn’t be benefiting from an inappropriate and potentially criminal enterprise,” Senate minority chairman Rob Ortt said in a statement – and on the left.

“He has been known as ‘Governor One Percent’ since his first year in office,” said Michael Kink of the Strong Economy for All Coalition in a statement, referring to the nickname Occupy protesters gave him a decade ago. “But now it’s official: the governor who fought against the taxation of millionaires is himself a millionaire. Wealthy politicians like FDR, JFK and RFK spent a lot of time with poor and working people, which drove their commitment to economic fairness – perhaps Cuomo should be less.” Spending time with New York’s 120 billionaires and more time with the 100,000 New Yorkers who are homeless. “

In response to the criticism, Azzopardi said, “This governor has worked day and night to save lives and bring this state out of this pandemic. Lord knows where they have been.”

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