Tim Ryan releases 10 years of tax returns

Tim Ryan releases 10 years of tax returns
© Greg Nash

Rep. Tim RyanTimothy (Tim) John Ryan2020 Democrat: Harriet Tubman will be on 'within the first year of my presidency' 2020 Democrat: Harriet Tubman will be on 'within the first year of my presidency' Democratic presidential hopefuls react to debate placement MORE (D-Ohio) on Monday released 10 years of his tax returns, becoming the latest 2020 Democratic presidential candidate to release the documents in order to draw a contrast with President TrumpDonald John TrumpTrump says 'Failing New York Times' should be held 'fully accountable' over Russia report Trump says 'Failing New York Times' should be held 'fully accountable' over Russia report Trump tweets ICE will begin removing 'millions' of undocumented migrants MORE.

“Full and complete transparency with the American people is paramount to Congressman Tim Ryan,” a spokesperson for the candidate said in a statement. “He understands that unity is built on trust earned with honesty and respect."

"While President Trump’s lies are designed to fracture our communities and distract from his own failures – Tim Ryan knows that America is stronger. And he’s committed to restoring the unity and trust our country deserves.”

Trump in 2016 became the first major-party presidential nominee to not release his tax returns. Democratic presidential candidates have been making their tax-returns public an effort to argue that they are more transparent about their finances than the president.

Ryan released his tax returns from 2009 to 2018.

Ryan's 2018 return shows that he and his wife, Andrea, had adjusted gross income of $220,754. Most of their income came from the candidate's congressional salary and his wife's income as an elementary-school teacher.

The couple had total taxes of $31,440, for an effective tax rate of 14.2 percent.

People filed their 2018 tax returns this year, and those returns are the first that reflect Trump's tax-cut law, which every congressional Democrat opposed. The Ryans appear to have gotten a tax cut under the law: Their adjusted gross income in 2018 was almost $2,000 higher than it was in 2017, but they had about $4,000 less in total tax in 2018.

Ryan and his wife appear to have benefited from the GOP tax law's expansion of the child tax credit, which they claimed in 2018 but were not eligible to claim in 2017. The tax law increased the income level for which the credit phases out from $110,000 for a married couple to $400,000.

The Ryans took the standard deduction of $24,000 for 2018. They claimed $28,170 in itemized deductions for 2017, including $1,500 in charitable contributions.

Besides Ryan, a host of other 2020 Democratic presidential candidates have released their returns. Those candidates are: Sens. Bernie SandersBernie SandersTrump hits polling on Fox News: 'Something weird going on at Fox' Trump hits polling on Fox News: 'Something weird going on at Fox' 2020 Democrats look to cut into Biden's lead with black voters MORE (I-Vt.), Elizabeth WarrenElizabeth Ann WarrenTrump hits polling on Fox News: 'Something weird going on at Fox' Trump hits polling on Fox News: 'Something weird going on at Fox' 2020 Democrats look to cut into Biden's lead with black voters MORE (D-Mass.), Kamala HarrisKamala Devi HarrisTrump hits polling on Fox News: 'Something weird going on at Fox' Trump hits polling on Fox News: 'Something weird going on at Fox' 2020 Democrats look to cut into Biden's lead with black voters MORE (D-Calif), Cory BookerCory Anthony Booker2020 Democrats look to cut into Biden's lead with black voters 2020 Democrats look to cut into Biden's lead with black voters Overnight Health Care: Democrats attack after Trump revives talk of ObamaCare replacement | Cruz, Ocasio-Cortez efforts on birth control face major obstacles | CVS investing M to fight teen e-cig use MORE (D-N.J.), Kirsten GillibrandKirsten Elizabeth GillibrandOvernight Health Care: Democrats attack after Trump revives talk of ObamaCare replacement | Cruz, Ocasio-Cortez efforts on birth control face major obstacles | CVS investing M to fight teen e-cig use Overnight Health Care: Democrats attack after Trump revives talk of ObamaCare replacement | Cruz, Ocasio-Cortez efforts on birth control face major obstacles | CVS investing M to fight teen e-cig use Trump's 2020 campaign strategy is to be above the law MORE (D-N.Y.) and Amy KlobucharAmy Jean KlobucharOvernight Defense: US to send 1K more troops to Mideast amid Iran tensions | Iran threatens to break limit on uranium production in 10 days | US accuses Iran of 'nuclear blackmail' | Details on key defense bill amendments Overnight Defense: US to send 1K more troops to Mideast amid Iran tensions | Iran threatens to break limit on uranium production in 10 days | US accuses Iran of 'nuclear blackmail' | Details on key defense bill amendments Overnight Health Care: Democrats attack after Trump revives talk of ObamaCare replacement | Cruz, Ocasio-Cortez efforts on birth control face major obstacles | CVS investing M to fight teen e-cig use MORE (D-Minn.), former Rep. Beto O'RourkeBeto O'RourkeProgressive activist: Democratic nominee will 'need to ride a little bit to the center' Poll: Biden leads Sanders by 22 points Poll: Biden leads Sanders by 22 points MORE (D-Texas) and Washington Gov. Jay InsleeJay Robert InsleePoll: Biden leads Sanders by 22 points Poll: Biden leads Sanders by 22 points Debunking Democrats' claims about fossil fuel tax breaks MORE (D).