Mike Pence Releases Tax Returns

pence-releases-tax-returns

Republican vice presidential nominee Mike Pence released 10 years of tax returns Friday, leaving Donald Trump as the only major party nominee running for the White House who has not disclosed how much he’s paid in taxes.

The Indiana governor’s returns show he and his wife, Karen, reported adjusted gross income of $113,026. Most of the Pences’ income came from his gubernatorial salary. Pence, who served 12 years in Congress, also received $9,370 from his congressional pension. The Pences contributed $8,923 to charity.

Their tax bill was $8,956, for an effective federal income tax rate of 8%. Because they withheld more taxes during the year than they owed, they received a refund of $10,162.

Karen Pence, a self-employed artist, reported earning $495 and spending more than that on expenses. She also lost $3,407 on her business selling identification charms for beach towels.

Trump, the GOP presidential nominee, has said he won’t release his tax returns because of an ongoing IRS audit.

Christina Reynolds, spokeswoman for Democratic presidential nominee Hillary Clinton’s campaign, said the campaign is pleased that “one member of the Trump ticket has decided to meet the long-held threshold for disclosure in a modern day presidential campaign.” But she said it’s Trump who is running for the top job, and accused him of hiding “behind fake excuses to avoid coming clean.”

Clinton and running mate Tim Kaine released multiple years of returns, the most recent ones last month.

Pence’s 2015 income is far below the $10.7 million reported by the Clintons. And it’s less than the $313,441 reported by Kaine and his wife.

“These tax returns clearly show that Mike and Karen Pence have paid their taxes, supported worthy causes, and, unlike the Clintons, the Pences have not profited from their years in public service,” said Pence spokesman Marc Lotter.

Pence’s adjusted gross income last year was the lowest in the 10 years of returns he made public. The family’s highest reported income was $187,495 in 2009.

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SOURCE: USA Today, Maureen Groppe