In a Friday afternoon news dump, Mitt Romney’s campaign is preparing to release his 2011 tax return, along with a 20-year summary of his tax rates from 1990 through 2009, his team just said.
The 20-year piece is a new plan and comes after some debate in the campaign, according to several sources, over when and how much to release. But it’s also not the full tax returns, meaning he is certain to face criticism for the partial disclosure. There will also be filings from both Romney’s and Paul Ryan’s physicians about their physical health.
(Also on POLITICO: Paul Ryan campaigning as mini-Mitt)
The entire thing will eventually be here, at 3 p.m. But according to his team, the Romneys paid $1,935,708 in taxes on $13,696,951, predominantly for investment income, for a 14.1 percent effective rate. The couple gave $4,020,772 in chartibale donations, and claimed a $2.25 million deduction for them.
Meanwhile, this note from Romney blind trust administrator Brad Malt declared:
In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.
For Romney, releasing the 2011 returns at the end of a rough week was probably as good a time as any in advance of the first presidential debate. But by releasing partial information on the additional 20 years that both Ann and Mitt Romney have repeatedly said the public doesn’t need to see, they would seem to be indicating that voters should get at least some of that information.