It's Not About the Money.

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Author: Goodin, Emily

Hotline Extra

Raising money may not be an issue in next year's California gubernatorial race, even though that state's campaigns are among the most expensive in the nation.

Democratic candidate Steve Westly, the state controller and a former eBay executive, released tax returns showing that he received nearly a quarter of a billion dollars in income over the past decade, mostly from selling stock in the company. Westly's financial disclosure was designed to pressure Republican Gov. Arnold Schwarzenegger and Democratic state Treasurer Phil Angelides to do the same.

"Anyone who runs for governor needs to be open and honest with his or her finances, and we think it's important to have this out early in the campaign," said Jude Barry, campaign manager for Westly. The Schwarzenegger and Angelides campaigns said that their candidates will release their tax returns before the election.

Schwarzenegger aides said he will release tax records covering 2003 and 2004 later this year. Last year, he broke with the practice of previous governors and withheld his tax return from public view. (Los Angeles Times, 9/20)

PHOTO (BLACK & WHITE): STEVE WESTLY

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By Emily Goodin

Emily Goodin is TV editor of The Hotline, National Journal Group's daily briefing on politics. National Journal subscribers can get The Hotline Weekly at www.nationaljournal.com