U.S. Democratic presidential nominee Hillary Clinton speaks at Futuramic Tool & Engineering in Warren, Michigan August 11, 2016. REUTERS/Chris Keane
U.S. Democratic presidential candidate Hillary Clinton paid an effective federal tax rate of 34.2 percent last year and a combined federal, state and local effective tax rate of 43.2 percent, her campaign said on Friday.
Clinton’s running mate, U.S. Senator Tim Kaine of Virginia, along with his wife, Anne Holton, paid a federal effective tax rate of 20.3 percent in 2015, the campaign said.
“Hillary Clinton and Tim Kaine continue to set the standard for financial transparency,” Clinton campaign aide Jennifer Palmieri said in a statement. “In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns.”
It is customary for U.S. presidential candidates to make their tax returns public, although they are not required by law to do so.
Clinton’s tax returns have been made public, in some form, every year since 1977.
Trump, a New York businessman, and his lawyers have cited an audit by the Internal Revenue Service as a reason he has refused to release his returns. Trump also has said his taxes are no one’s business and that they reveal little.
The IRS has said Trump can release his tax returns even while under audit.
On Thursday, Trump’s special counsel, Michael Cohen, told CNN he would not allow Trump to release them until the audits are complete.