Newt Gingrich said today he paid a 31% tax rate in 2010 and plans to release his returns Thursday.
Gingrich told reporters in South Carolina that his campaign went through his records three times to calculate the 31% rate.
“We’re pulling together the documents,” Gingrich said, according to ABC News. “We hope to get it out sometime tomorrow. … And we’ll release 2011 as soon as we put it together.”
Gingrich’s revelation comes a day after GOP front-runner Mitt Romney said he is taxed “closer to the 15% rate” because of his investment income. Romney and Gingrich are both millionaires, according to their personal financial disclosure reports.
The former House speaker’s net worth is at least $6.7 million, based on his report. Romney is worth between $190 million and $250 million.
At 31%, the rate paid by Gingrich would be higher than the rate paid by many Americans but is close to what millionaires pay.
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SOURCE: USA Today