Lamont's $64.8 Million in Reported Income Highlights Financial Contrast With Fazio

HARTFORD, Conn. — Newly disclosed tax records show a sharp difference in the reported income of Connecticut's two leading gubernatorial candidates, Gov. Ned Lamont and Republican state Sen. Ryan Fazio. The disclosures came Friday, one day after the candidates' first televised debate, where taxes and affordability were among the central issues.

Lamont reported a combined $64.8 million in income from 2022 through 2025, according to figures released by his campaign and reviewed by reporters. His adjusted gross income was just over $6 million in both 2022 and 2023, rose to about $35.2 million in 2024, and was approximately $17 million in 2025. Most of his income came from capital gains, dividends, and interest on investments.

Fazio disclosed income for 2023, 2024, and 2025. His adjusted gross income was $134,601 in 2023, $143,319 in 2024, and $50,984 in 2025. His 2023 and 2024 earnings included work as a business analyst and his state Senate salary. In 2025, his reported income reflected his state salary after he left the business role to focus on his campaign.

The candidates' records cover different periods: Lamont's disclosure covered four years, while Fazio's covered three. Their campaigns provided reporters access to selected pages of their returns rather than publishing complete tax filings. The figures show very different reported income levels and sources during those years.

The timing gives the disclosures added relevance in the campaign. During Thursday's debate, the candidates clashed over taxes, utility costs, and affordability in Connecticut. Fazio criticized Lamont's record on taxes and the cost of living; Lamont defended his administration's tax changes and relief measures. The tax disclosures were released separately from the debate and do not, by themselves, answer questions about either candidate's policies or finances.

A tax return reports income and certain financial activity during a particular period. It does not provide a complete measure of a person's total wealth or assets.