Clinton and Kaine release tax returns

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Hillary Clinton and Tim Kaine released new tax returns Friday, as their Democratic presidential ticket steps up its calls for Donald Trump to make his returns public.

Clinton and her husband, former President Bill Clinton, put out their returns for 2015. They previously have made more than 30 years of their returns public. Kaine and his wife, Anne Holton, released returns for 2006 to 2015.

{mosads}“In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns,” Clinton campaign communications director Jennifer Palmieri said. 

“He has failed to provide the public with the most basic financial information disclosed by every major candidate in the last 40 years. What is he trying to hide?”

This morning, the Clinton campaign released a web video showing Republicans who have urged Trump to release his tax returns.

The billionaire businessman has said he is not releasing his tax returns until the IRS finishes an audit of him. The IRS has said that nothing prevents Trump from releasing his own information.

The Clintons had a total income in 2015 of about $10.7 million. They paid an effective federal income tax rate of 34.2 percent and donated almost 10 percent of their adjusted gross income to charity, the campaign said.

Kaine and Holton over the past 10 years have had effective federal income tax rates ranging from 13.4 percent to 24 percent. The Clinton campaign said that the couple has donated 7.5 percent of their adjusted gross income to charity over the past decade.

In 2015, Kaine and Holton had a total income of about $313,000.

The Clintons’ income was down from 2014, when they had a total income of about $28 million. Their income came from sources that included the couple’s books and speeches as well as Bill Clinton’s consulting work.

In 2015, the Clintons claimed deductions for mortgage interest, state and local income taxes and charitable contributions. 

That year, the Clintons donated $1,042,000 to charity, with the vast majority — $1 million — going to the Clinton Family Foundation. The remainder went to Desert Classic Charities.

The campaign said last year that the Clintons paid nearly $44 million in taxes between 2007 and 2014. 

– Updated at 5:27 p.m. to reflect the fact that the Clintons donated to the Clinton Family Foundation. 

Tags Bill Clinton Donald Trump Hillary Clinton Tim Kaine
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