Tim Ryan releases 10 years of tax returns

Tim Ryan releases 10 years of tax returns
© Greg Nash

Rep. Tim RyanTimothy (Tim) John RyanThe Hill's Campaign Report: De Blasio drops out | Warren gains support from black voters | Sanders retools campaign team | Warning signs for Tillis in NC Williamson: Climate change result of an 'amoral' economic system Overnight Energy: Top presidential candidates to skip second climate forum | Group sues for info on 'attempts to politicize' NOAA | Trump allows use of oil reserve after Saudi attacks 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's top adviser on Asia to serve as deputy national security adviser United Auto Workers strike against GM poised to head into eighth day Trump doubles down on call to investigate Biden after whistleblower complaint: 'That's the real story' 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 SandersOmar: Biden not the candidate to 'tackle a lot of the systematic challenges that we have' Seven takeaways from a busy Democratic presidential campaign weekend in Iowa Democrats go all out to court young voters for 2020 MORE (I-Vt.), Elizabeth WarrenElizabeth Ann WarrenUnited Auto Workers strike against GM poised to head into eighth day Omar: Biden not the candidate to 'tackle a lot of the systematic challenges that we have' Seven takeaways from a busy Democratic presidential campaign weekend in Iowa MORE (D-Mass.), Kamala HarrisKamala Devi HarrisSeven takeaways from a busy Democratic presidential campaign weekend in Iowa Fracking ban could have unintended consequence of boosting coal Poll: Voters back Medicare expansion, keeping private insurance MORE (D-Calif), Cory BookerCory Anthony BookerSeven takeaways from a busy Democratic presidential campaign weekend in Iowa Iowa GOP swipes at 2020 Democrats' meat positions as candidates attend annual Steak Fry Booker aide sounds alarm about campaign's funding MORE (D-N.J.), Kirsten GillibrandKirsten GillibrandNew Hampshire feels overlooked in Democratic presidential race Booker aide sounds alarm about campaign's funding O'Rourke gun confiscation talk alarms Democrats MORE (D-N.Y.) and Amy KlobucharAmy Jean KlobucharSeven takeaways from a busy Democratic presidential campaign weekend in Iowa MSNBC 'Climate in Crisis' special draws 1.3M viewers in 8 pm timeslot The two most important mental health reforms the Trump administration should consider MORE (D-Minn.), former Rep. Beto O'RourkeBeto O'RourkeSeven takeaways from a busy Democratic presidential campaign weekend in Iowa FBI: Arson attacks directed at three Catholic churches in El Paso Toomey on gun reform: 'Beto O'Rourke is not helping' MORE (D-Texas) and Washington Gov. Jay InsleeJay Robert Inslee2020 Democrats defend climate priorities in MSNBC forum Overnight Energy: Trump officials formally revoke California emissions waiver | EPA's Wheeler dodges questions about targeting San Francisco over homelessness | 2020 Dems duke it out at second climate forum Yang floats nominating Inslee as 'climate czar' MORE (D).